Market Technical Analysis by RoboForex

[RoboForex Team]

GBPUSD rises amid potential easing of US monetary policy

The GBPUSD rate hit a new two-year high on Friday after Federal Reserve Chair Jerome Powell hinted at an imminent US interest rate cut.

EURUSD technical analysis

The GBPUSD H4 chart shows that the market has formed a narrow consolidation range around 1.3103 and, breaking above it, reached the growth wave’s target of 1.3220. Nearly the entire growth wave potential has been exhausted.

Powell’s comments on a US interest rate cut and signs of a recovering UK economy propelled the GBPUSD pair to a two-year high.

Read more - GBPUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

EURUSD remains at highs: the market turns against the US dollar

The EURUSD rate has resumed growth following a correction, with the main movements around 1.1168. Concerns about the Middle East have dampened investor optimism about an imminent Federal Reserve interest rate cut.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has declined to 1.1150 and corrected towards 1.1178. Another corrective movement is possible today, 27 August 2024, aiming for 1.1181.

Although the EURUSD pair returns to an annual high, market sentiment could depend on external factors. Technical indicators in today’s EURUSD forecast suggest a potential decline to 1.1150, possibly continuing to 1.0980.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

USDCAD remains weak as the market tests lows last seen on 8 March 2024

The USDCAD pair fell to a six-month low, primarily driven by the weakness of the US dollar. However, current developments are not particularly favourable for the Canadian dollar either. Find out more in our analysis dated 28 August 2024.

USDCAD technical analysis

The USDCAD H4 chart shows that the market maintains its downward trajectory without a significant correction. The market has formed a consolidation range around 1.3485 and broke below its lower boundary today, 28 August 2024, pushing the USDCAD rate down to 1.3440.

The USDCAD pair fell to a six-month low and is poised for a further decline. Technical indicators in today’s USDCAD forecast suggest that the downward wave could continue to the 1.3366 and 1.3263 levels.

Read more - USDCAD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

USDJPY remains in a consolidation phase: the market is conserving strength

The USDJPY pair has remained within a sideways range for the fourth consecutive session. Investors have adopted a waiting mode as there has been no significant news. Find out more in our analysis dated 29 August 2024.

USDJPY technical analysis

The USDJPY H4 chart shows that the market continues developing a consolidated range around 145.70 without establishing a clear trend. The price could rise to 145.45 today, 29 August 2024. Subsequently, the range is expected to expand to 143.40.

The USDJPY pair is consolidating while the news stream is limited, and the macroeconomic calendar is empty. Technical indicators in today’s USDJPY forecast suggest a potential decline to the 141.60, 139.70, and 137.77 levels.

Read more - USDJPY Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

EURUSD falls to a two-week low: the market assesses risks

The EURUSD pair declined on Friday, supported by robust US macroeconomic data. Read more in our analysis for 30 August 2024.

EURUSD technical analysis

On the H4 chart, EURUSD quotes have reached a local target at 1.1055. An upward correction to 1.1121 (a test from below) is possible today, 30 August 2024. Following this, a further decline towards 1.1040 is expected, marking the first decline phase.

EURUSD may interrupt its five-week rally and close the week with a decline. Technical indicators for today’s EURUSD forecast suggest a possible correction to 1.1121, followed by a decline to 1.1040.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

Gold (XAUUSD) is below 2,500 USD, but the trend remains upward

Despite XAUUSD's price falling below 2,500 USD on Monday, growth prospects remain. This week, market participants are closely watching the latest XAUUSD news, particularly focusing on US employment data, which is expected to significantly impact the XAUUSD outlook.

XAUUSD technical analysis

On the H4 chart, XAUUSD is trading within an ascending price channel just below 2,500 USD but above the upper boundary of the completed triangle pattern.

Although XAUUSD has fallen below 2,500 USD, there is still potential for growth. This week, market participants will focus on the US employment market data, which could drive further gold price movements.

Read more - XAUUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

EURUSD analysis: EURUSD falls as market bets on ECB policy easing

The EURUSD pair has experienced a decline for the third consecutive trading day, reflecting investor sentiment towards potential policy easing by the European Central Bank (ECB). With inflation trends supporting this outlook, market participants are increasingly expecting an ECB interest rate cut in September.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has formed a consolidation range around 1.1050 and extended it to 1.1076. The price is expected to decline to 1.1050 and break below the range today, 3 September 2024, expanding the wave towards 1.1025

The EURUSD pair remains under significant selling pressure, with the market's focus on the upcoming ECB meeting.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

USDCAD rebounds from five-month low: declining oil prices may hurt Canada’s economy

The USDCAD pair has been on an upward trend. The Canadian dollar is pressured by weak forecasts for commodity exports and currency inflows. Discover more in our analysis for 4 September 2024.

USDCAD technical analysis

The USDCAD H4 chart shows that the market has reached the downward wave’s local target of 1.3400. A correction is forming towards the 1.3570 level and is expected to be completed today, 4 September 2024.

The USDCAD pair has strengthened its position. The market took advantage of worsening oil market conditions and supported the US dollar position.

Read more - USDCAD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

AUDUSD is strengthening amid the Reserve Bank of Australia’s hawkish stance

The AUDUSD rate is stabilising following a speech by the RBA’s chief. Find out more in our analysis for 5 September 2024.

AUDUSD technical analysis

The AUDUSD H4 chart shows that the market has corrected towards 0.6740. A decline to 0.6700 is expected today, 5 September 2024. A breakout below this level may signal further movement towards the first target of 0.6650.

The AUDUSD rate still has the potential to strengthen thanks to stable foreign trade and the Reserve Bank of Australia’s tight monetary policy stance, even amid easing inflation.

Read more - AUDUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

USDJPY under pressure: the Japanese economy is recovering

The USDJPY rate has been falling for the fourth consecutive trading session. Traders are awaiting the US employment report. Find out more in our analysis for 6 September 2024.

USDJPY technical analysis

The USDJPY H4 chart shows that the market is forming a new consolidation range around 143.43, extending it to 144.22 and down to 142.84. The price could break below the lower boundary of the range today, 6 September 2024.

Weak US economic data continue to pressure the USDJPY rate, increasing the likelihood of a more aggressive Federal Reserve interest rate cut as early as this month.

Read more - USDJPY Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

GBPUSD is in equilibrium: the US dollar came under pressure

The GBPUSD pair has strengthened its position. The market is disappointed in the outlook following Friday’s US employment statistics. Find out more in our analysis for 9 September 2024.

GBPUSD technical analysis

The GBPUSD H4 chart shows that the market has completed a corrective wave, reaching 1.3237. Following the news, it declined to 1.3147 before rising to 1.3198. The GBPUSD rate is expected to fall to 1.3110 and form a consolidation range around this level today.

Investors in the GBPUSD pair are preoccupied with assessing risks and monitoring the news landscape.

Read more - GBPUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

USDCHF under pressure ahead of US inflation data

The USDCHF rate is slightly correcting but remains within a descending channel. Discover more in our analysis for 10 September 2024.

USDCHF technical analysis

The USDCHF H4 chart shows that the market is forming a consolidation range around 0.8477. The price could break above the 0.8500 level today, 10 September 2024. Breaking above the 0.8500 mark may be considered a signal for a further upward movement, opening the potential for a growth wave towards 0.8555.

The USDCHF currency pair is under pressure due to expectations of crucial US inflation data, which may impact the Federal Reserve’s decision to cut interest rates.

Read more - USDCHF Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

EURUSD declined: US political debates and inflation report are ahead

The EURUSD pair hovers at a four-week low on Wednesday. The market appears wary. Discover more in our analysis for 11 September 2024.

EURUSD technical analysis

On the EURUSD H4 chart, the market has completed a downward wave, reaching 1.1015. A correction towards 1.1046 (testing from below) is expected today, 11 September 2024. Once the correction is complete, the downward wave could develop to 1.1030.

The EURUSD pair has declined markedly. The market has reduced its activity level as the news landscape is highly busy.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

AUDUSD is poised for growth, supported by global positive sentiment

AUDUSD is strengthening for the second consecutive day, with the market favouring risk. Find out more in our analysis for 12 September 2024.

AUDUSD technical analysis

The AUDUSD H4 chart shows that the market has completed a downward wave, reaching 0.6622. A correction towards 0.6686 is expected today, 12 September 2024. Once the correction is complete, the AUDUSD rate is expected to decline to 0.6650.

The AUDUSD pair is rising for the second consecutive day, supported by a growing risk appetite.

Read more - AUDUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

Gold (XAUUSD) is rising rapidly, reaching a new all-time high of 2,532 USD

XAUUSD price exited a sideways range yesterday, subsequently surpassing an all-time high of 2,532 USD. Gold may continue its ascent. Find out more in our XAUUSD analysis for today, 13 September 2024.

XAUUSD technical analysis

The XAUUSD H4 chart shows a sideways price range, with boundaries at 2,532 USD and 2,470 USD. Following the release of US inflation data, gold prices rose and broke above the range’s upper boundary, indicating the potential for further upward movement.

Gold prices are rising steadily, reaching an all-time high of 2,532 USD after the release of weaker-than-expected US inflation data.

Read more - XAUUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

EURUSD rose: the Fed must be decisive

The EURUSD pair has been rising for the third consecutive trading day. Investors are awaiting a 50-basis-point Federal Reserve interest rate cut. Find out more in our analysis for 16 September 2024.

EURUSD technical analysis

The EURUSD H4 chart shows that the market is forming a consolidation range around 1.1086. The market extended the range down to 1.1073 and up to 1.1104. The price could decline to 1.1055 today, 16 September 2024. After reaching this level, it might rise to 1.1128.

The EURUSD pair strengthened its position, with further volatility expected amid the September Federal Reserve meeting.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

USDCHF declines: the US dollar is in a disadvantageous position

The USDCHF pair continues to fall, with the Swiss franc benefiting from the weakness of the US dollar. Find out more in our analysis for 17 September 2024.

USDCHF technical analysis

The USDCHF H4 chart shows that the market has completed a growth wave, reaching 0.8549. A corrective structure has fully formed today, 17 September 2024, aiming for 0.8434. A consolidation range is currently developing above this level.

The USDCHF pair remains under pressure until the end of the US Federal Reserve meeting.

Read more - USDCHF Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

Gold (XAUUSD) trades near highs ahead of the Fed rate decision

XAUUSD price remains near annual highs, awaiting the US Federal Reserve interest rate decision. Its announcement and the press conference of the Federal Reserve chair may give fresh momentum to the stock price.

XAUUSD technical analysis

The XAUUSD pair is trading within an uptrend on the daily chart, with the price currently hovering around 2,570 USD. After breaking above the sideways range last week, gold price is steadily rising, aiming for the target of the previously formed triangle pattern near 2,600 USD.

Gold prices are rallying upwards, reaching the 2,590 USD level this week.

Read more - XAUUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

AUDUSD maintains its upward momentum

The Federal Reserve interest rate change and stabilising unemployment in Australia supported the Australian dollar. Find out more in our analysis for 19 September 2024.

AUDUSD technical analysis

The AUDUSD H4 chart shows that the market has pushed the price to 0.6819 on the fundamental background. The price has corrected towards 0.6737 today, 19 September 2024. Following the correction, a growth wave structure is forming, aiming for 0.6825 and potentially continuing towards 0.6855.

The US interest rate cut and the AUDUSD technical analysis in today’s AUDUSD forecast suggest that the growth wave could continue towards the 0.6825 and 0.6855 levels.

Read more - AUDUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[RoboForex Team]

NZDUSD analysis: the market demonstrates risk appetite

The NZDUSD pair continues to rise for the third consecutive day, driven by a weaker US dollar and positive risk sentiment. Below is our detailed NZDUSD forecast and analysis for 20 September 2024.

NZDUSD technical analysis

From a technical perspective, the NZDUSD pair is forming a consolidation range around the 0.6239 level on the H4 chart. Today's outlook for NZDUSD suggests the potential for an upside extension towards the 0.6262 level.

The NZDUSD pair continues steadily climbing as investors show growing interest in risk.

Read more - NZDUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team