Forex Technical Analysis & Forecast 08.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

08.08.2018

EURUSD, “Euro vs US Dollar”

EURUSD is being corrected upwards and may reach 1.1630. After that, the instrument may fall towards 1.1577, thus forming another consolidation range. If later the pair breaks this range to the downside, the price may continue falling inside the downtrend with the target at 1.1414.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating near the lows. According to the main scenario, the instrument is expected to break the range to the downside and reach 1.2888. Later, the market may start another correction towards 1.3000.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating again. Possibly, the pair may fall to reach 0.9915.  According to the main scenario, the instrument is expected to continue moving to the upside with the target at 1.0000. Later, the market may fall towards 0.9955 and then start another growth to reach 1.0025.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 111.25. Possibly, the pair may break the range to the downside and reach 110.60. After that, the instrument may grow towards 111.25 and then resume falling inside the downtrend with the first target at 110.30.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving upwards. Today, the price may reach 0.7463 and then fall towards 0.7373. Later, the market may break this level and continue falling inside the downtrend with the target at 0.7285.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is falling to reach 62.90. After that, the instrument may grow towards 63.39, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may grow to reach 64.20; if to the downside – resume trading to the downside with the target at 60.90.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

XAUUSD, “Gold vs US Dollar”

Gold is consolidating near the lows. Possibly, today the pair may test 1217.00 from below and then resume trading to the downside to reach 1200.00. Later, the market may start another ascending movement with the target at 1233.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

BRENT

Brent continues growing towards 74.78. After that, the instrument may form another descending structure to return to 73.20, thus forming a wide consolidation range.  If later the instrument breaks this range to the downside, the price may fall to reach 70.90; if to the upside – continue moving to the upside with the target at 75.90.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

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