Technical Analysis by RoboForex

[RoboForex]

Forex Technical Analysis & Forecast 29.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
29.08.2018
EURUSD, “Euro vs US Dollar”

EURUSD is forming the second descending impulse. Possibly, today the pair may update 1.1680 and then grow towards 1.1700. After that, the instrument may form another descending structure to reach the first target at 1.1675 and then return to 1.1700, thus forming another consolidation range at the top. Later, the market may break the range to the downside and continue falling inside the downtrend with the target at 1.1480.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.2863. Possibly, the pair may grow to reach 1.2955. According to the main scenario, the price may fall to break 1.2777 and then continue trading to the downside with the target at 1.2600.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards and forming a new consolidation range to break the descending channel. The target is at 0.9787. Later, the market may fall to reach 0.9766 and then resume growing with the target at 0.9850.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating. Today, the price may form a new ascending structure towards 111.36 and then fall to reach 111.15, thus forming another consolidation range. If the instrument breaks this range to the downside, the price may resume falling to reach 110.60; if to the upside – continue growing with the target at 111.66.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating. If the instrument breaks this range to the downside, the price may start another decline to reach 0.7287; if to the upside – resume growing towards 0.7373.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 67.41. Possibly, today the pair may fall to reach 66.50 and may form a new ascending structure with the target at 67.40. After that, the instrument may resume falling towards 65.75.

XAUUSD, “Gold vs US Dollar”

Gold has reached the target of the first descending wave, which may be considered as the start of a new correction towards 1186.20. Today, the price may fall to reach 1193.03 and then grow towards 1200.00. Later, the market may resume trading to the downside to return to 1186.20.

BRENT

Brent is moving downwards with the first target at 75.50. After that, the instrument may start another growth to reach 76.30 and then resume falling towards 73.55.

 

[RoboForex]

Ichimoku Cloud Analysis 29.08.2018 (AUDUSD, NZDUSD, USDCAD)
29.08.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7331; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7310 and then resume moving upwards to reach 0.7425. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7270. In this case, the pair may continue falling towards 0.7220. After breaking the upside border of the Triangle pattern and fixing above 0.7375, the price may continue moving upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6706; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.6695 and then continue moving upwards to reach 0.6765. Another signal to confirm further ascending movement is the price’s rebounding from the channel’s downside border. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.6665. In this case, the pair may continue falling towards 0.6560.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2928; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2975 and then continue moving downwards to reach 1.2810. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.3030. In this case, the pair may continue growing towards 1.3150.

 

[RoboForex]

Fibonacci Retracements Analysis 03.09.2018 (GOLD, USDCHF)
03.09.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after reaching the retracement of 23.6%, XAUUSD has started a new short-term descending correction towards the retracements of 38.2% and 50.0% at 1193.60 and 1187.40 respectively. After finishing this pullback and breaking the high at 1214.30, the price may continue trading to reach the retracement of 38.2% at 1238.40.

In the H1 chart, the convergence made the pair complete the correctional trend. In case the descending correction continues, the downtrend may reach the retracements of 61.8% and 76.0% at 1195.00 and 1190.70 respectively. The upside target will be the high at 1214.30.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the correctional downtrend continues; the pair is getting close to the retracement of 50.0% at 0.9629. The resistance level is the high at 1.0068.

In the H1 chart, the convergence made USDCHF reverse and start a new rising correction, which has already reached the retracement of 23.6%. The next possible targets are the retracements of 38.2%, 50.0%, and 61.8% at 0.9734, 0.9759, and 0.9784 respectively.

 

[RoboForex]

Forex Technical Analysis & Forecast 03.09.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
03.09.2018
EURUSD, “Euro vs US Dollar”

EURUSD is moving downwards to reach 1.1520. Possibly, today the pair may consolidate to grow towards 1.1617 and then fall with the short-term target at 1.1546. After that, the instrument may start a new correctional wave towards 1.1616 and then resume trading to the downside to reach the target at 1.1520.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving downwards to reach 1.2864. Later, the market may grow towards 1.2936 and then start another decline with the target at 1.2828.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards. Possibly, today the pair may reach 0.9740 and then fall to reach 0.9670. After that, the instrument may form a new ascending structure with the first target at 0.9770.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming the third descending wave. Today, the price may grow to reach 111.25, resume falling to break 110.68, and then continue falling inside the downtrend with the short-term target at 110.18. Later, the market may resume growing to return to 110.68 and then start another decline with the target at 109.55 to complete the first half of this descending wave.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken its consolidation range downwards. Possibly, the pair may extend the third wave towards 0.7156 and then start another correction to reach 0.7256. After that, the instrument may form the fifth wave with the target at 0.7135.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 67.64. Possibly, today the pair may fall towards the downside border of the Triangle pattern at 67.15 and then resume growing to reach 67.70. Later, the market may continue falling inside the downtrend with the target at 65.75.

XAUUSD, “Gold vs US Dollar”

Gold is moving downwards. Possibly, today the pair may reach 1191.80 and then grow towards 1200.00. Later, the market may resume trading to the downside to return to 1186.20.

BRENT

Brent is consolidating above 77.00. According to the main scenario, the pair is expected to break the range to the upside and reach 78.90. After that, the instrument may fall towards 78.04 and start another growth with the target at 82.00.

 

[RoboForex]

Ichimoku Cloud Analysis 03.09.2018 (AUDUSD, NZDUSD, USDCAD)
03.09.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7197; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7235 and then resume moving downwards to reach 0.7080. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7320. In this case, the pair may continue growing towards 0.7435.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6609; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.6635 and then continue moving downwards to reach 0.6530. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6685. In this case, the pair may continue growing towards 0.6750.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3057; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3010 and then continue moving upwards to reach 1.3155. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2955. In this case, the pair may continue falling towards 1.2860.

 

[RoboForex]

Japanese Candlesticks Analysis 03.09.2018 (EURUSD, USDJPY)
03.09.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD continues growing and forming Harami and Doji reversal patterns during pullbacks. At the moment, it may be assumed that these patterns indicate that the instrument completed the correction and may continue its rising tendency.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after rebounding from the resistance level once again, USDJPY has formed Hammer and Engulfing reversal patterns. Judging by the previous movement, it may be assumed that the instrument may complete another correction and start a new ascending tendency.

 

[RoboForex]

Murrey Math Lines 03.09.2018 (EURUSD, GBPUSD)
03.09.2018
EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD may break the 6/8 level and then continue falling towards the 5/8 one.

As we can see in the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to test the 5/8 level, rebound from it, and then resume falling towards the support at the 2/8 one.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is consolidating. In this case, the instrument is expected to continue falling towards the support at the 3/8 level.

In the H1 chart, the price may rebound from the 4/8 level and then resume falling to reach the support at the 2/8 one.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

 

[RoboForex]

Fibonacci Retracements Analysis 04.09.2018 (EURUSD, USDJPY)
04.09.2018
EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD has completed the correctional uptrend close to the retracement of 38.2% and right now is forming a new descending impulse. However, if the price breaks the current high, the uptrend may continue towards the retracement of 50.0% at 1.1858. The support level is the low at 1.1300.

As we can see in the H1 chart, the pair has already reached the retracement of 38.2% and may continue falling towards the retracements of 50.0%, 61.8%, and 76.0% at 1.1518, 1.1466, and 1.1405 respectively.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the convergence made USDJPY reverse and start a new correctional uptrend, which is getting closer to the retracement of 61.8% at 111.87 and may continue towards the retracement of 76.0% at 112.35. The resistance level is the high at 113.18, the support one is the low at 109.78.

In the H1 chart, the pair is forming a new ascending impulse, which is getting closer to the retracement of 76.0% at 111.55. After breaking the short-term high at 111.83, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 112.26 and 112.54 respectively.

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[RoboForex]

Ichimoku Cloud Analysis 04.09.2018 (AUDUSD, NZDUSD, USDCAD)
04.09.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7221; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7240 and then resume moving downwards to reach 0.7080. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7315. In this case, the pair may continue growing towards 0.7435.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6592; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6610 and then continue moving downwards to reach 0.6530. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6665. In this case, the pair may continue growing towards 0.6740.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3104; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3070 and then resume moving upwards to reach 1.3205. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2955. In this case, the pair may continue falling towards 1.2860. After breaking the channel’s upside border and fixing above 1.3225, the price may continue moving upwards.

 

[RoboForex]

Forex Technical Analysis & Forecast 04.09.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
04.09.2018
EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.1610. Possibly, the pair may expand the range towards 1.1635. After that, the instrument may resume trading to the downside with the short-term target at 1.1505.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving downwards. Today, the price may reach 1.2840 and then grow towards 1.2935. Later, the market may start another decline with the target at 1.2825.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating and forming the Divergent Triangle pattern. Possibly, today the pair may reach 0.9680 and then grow to break 0.9722. After that, the instrument may continue trading upwards with the target at 0.9777.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the ascending impulse; right now, it is consolidating and forming the Pennant pattern. Possibly, the pair may break the pattern upwards and reach 111.25. Later, the market may continue falling inside the downtrend with the short-term target at 110.12.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving upwards. Possibly, the pair may be corrected towards 0.7255 and then start another decline with the short-term target at 0.7156. After that, the instrument may form a new ascending structure to return to 0.7255 and then resume falling towards 0.7135.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 67.67. Possibly, today the pair may fall towards the downside border of the Triangle pattern at 67.35. If later the instrument breaks this pattern to the downside, the price may continue falling inside the downtrend to reach 65.20; if to the upside – resume growing and form the Double Top pattern at 68.90. Later, the market may resume trading downwards with the target at 66.10.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating. Possibly, the pair may fall to reach the short-term target at 1191.80 and then grow towards 1200.22. Later, the market may resume trading to the downside to reach 1186.22.

BRENT

Brent is moving upwards; it has reached 78.05 and may continue growing towards 78.92. Later, the market may start another consolidation range. If later the instrument breaks this range to the downside, the price may be corrected towards 76.20; if to the upside – continue growing inside the uptrend with the target at 82.22.

 

[RoboForex]

Murrey Math Lines 04.09.2018 (AUDUSD, NZDUSD)
04.09.2018
AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is expected to test the 3/8 level, rebound from it, and then resume falling towards the support at the 1/8 one.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards to reach 0.7141.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is expected to continue growing towards the resistance at the 3/8 level.

In the H1 chart, the instrument may break the 1/8 level and then continue trading upwards to reach the 3/8 one.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

 

[RoboForex]

Japanese Candlesticks Analysis 04.09.2018 (GOLD, NZDUSD)
04.09.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has reached the resistance level and right now is still forming Hammer and Doji reversal patterns. Judging by the previous movements, it may be assumed that the price may complete the pullback and then continue its ascending movement.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD is being corrected towards the support level once again and forming Hammer and Inverted Hammer reversal patterns. Judging by the previous movements, it may be assumed that the instrument is forming another pullback before starting a new growth.

 

[RoboForex]

Fibonacci Retracements Analysis 05.09.2018 (GBPUSD, EURJPY)
05.09.2018
GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after being corrected to the upside by 23.6%, GBPUSD has started a new descending impulse. The closest downside target is at 1.2661. However, the uptrend may yet continue. If the price starts forming a new impulse to the upside, the targets may be the retracements of 23.6% and 38.2% at 1.3067 and 1.3316 respectively.

In the H1 chart, the divergence made the pair start a new downtrend, which is getting closer to the retracement of 61.8% at 1.2807. The next downside target may be the retracement of 76.0% at 1.2753. However, at the moment the price is slowing down and the convergence is being formed, which may indicate a new pullback – it has already reached the retracement of 23.6% and may continue towards the retracements of .38.2% and 50.0% at 1.2898 and 1.2926 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, the divergence made EURJPY reverse and form a new descending impulse, which has already reached the retracement of 38.2%. The next downside targets may be retracements of 50.0%, 61.8%, and 76.0% at 127.87, 127.17, and 126.32 respectively. The resistance level is the high at 130.86.

In the H1 chart, the convergence made the pair reverse and start a new correction, which has already reached the retracement of 38.2%. The next targets of this movement may be the retracements of 50.0% and 61.8% at 129.59 and 129.89 respectively. If the price breaks the short-term low at 127.317, the downtrend will continue.

 

[RoboForex]

Japanese Candlesticks Analysis 05.09.2018 (USDCAD, AUDUSD)
05.09.2018
USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD reached the resistance level and formed several Doji reversal patterns during pullbacks. At the moment, the price is being corrected again and forming more Doji and Shooting Star patterns. Judging by the previous movements, right now it may be assumed that the instrument is forming another correction before starting a new ascending movement.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is trading close to the support level and forming Doji, Hammer, and Inverted Hammer reversal patterns there. Judging by the previous movements, it may be assumed that the instrument is being corrected before forming a new uptrend.

 

[RoboForex]

Ichimoku Cloud Analysis 05.09.2018 (AUDUSD, NZDUSD, USDCAD)
05.09.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7175; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7215 and then resume moving downwards to reach 0.7075. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7270. In this case, the pair may continue growing towards 0.7435. After breaking the channel’s downside border and fixing below 0.7060, the price may continue moving downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6546; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6575 and then continue moving downwards to reach 0.6460. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6665. In this case, the pair may continue growing towards 0.6740.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3190; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3115 and then resume moving upwards to reach 1.3310. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2955. In this case, the pair may continue falling towards 1.2860.

 

[RoboForex]

Murrey Math Lines 05.09.2018 (USDJPY, USDCAD)
05.09.2018
USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY may break the 6/8 level. In this case, the price is expected to continue growing towards the resistance at the 8/8 level.

In the H1 chart, the price may trade downwards to reach the support at the 0/8 level in case it breaks the 3/8 one and fixes below it.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is trading close to the resistance level. In this case, the price may fall towards the support at the 6/8 level.

In the H1 chart, EURUSD is trading near the resistance level and may resume falling towards the first target at the 5/8 level.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

 

[RoboForex]

Forex Technical Analysis & Forecast 05.09.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
05.09.2018
EURUSD, “Euro vs US Dollar”

EURUSD has almost reached the short-term downside target. Possibly, today the pair may be corrected towards 1.1624 and then fall to reach 1.1510. After that, the instrument may start another correction with the target at 1.1624.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has almost completed the correction. Today, the price may grow towards 1.2919 and then start another decline with the target at 1.2791.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the short-term upside target. Right now, it is being corrected towards 0.9724 or even 0.9700. After that, the instrument may continue trading upwards with the target at 0.9797.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still being corrected upwards; it has finished the third structure. Possibly, today the pair may form the fourth one to reach 111.20. Later, the market may resume growing with the target at 111.73.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the short-term downside target. Today, the price may form a new ascending structure towards 0.7266 and then resume falling to reach 0.7133.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading to rebound from 68.37 downwards. Possibly, the pair may reach 67.37, break it, and then continue falling inside the downtrend with the target at 66.36.

XAUUSD, “Gold vs US Dollar”

Gold has reached the predicted downside target. Possibly, today the pair may form a new ascending structure towards 1200.10. Later, the market may resume trading to the downside to reach 1186.22.

BRENT

Brent has finished another ascending structure; right now, it is moving downwards with the target at 77.45. Later, the market may grow to reach 78.59, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may resume growing towards 80.50; if to the downside – continue the correction with the target at 76.20.

 

[RoboForex]

Fibonacci Retracements Analysis 06.09.2018 (AUDUSD, USDCAD)
06.09.2018
AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the downtrend continues. After breaking the previous low, AUDUSD continued moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7134 and 0.7091 respectively. At the same time, the convergence is being formed, which may indicate a pullback upwards after the price reaches its downside targets. The possible targets of this rising pullback may be the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 0.7177, 0.7230, 0.7273, and 0.7316 respectively.

The H1 chart shows more detailed structure of the current movement.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is being corrected to the upside towards the retracement of 76.0%. The main target is the high at 1.3386. The support level is at 1.3004.

In the H1 chart, the pair is trading upwards to reach 1.3267. At the same time, the divergence is being formed, which may indicate a new correction downwards after the instrument reaches it upside targets. The possible targets of a new descending correction may be the retracements of 23.6%, 38.2%, and 50.0% at 1.3176, 1.3122, and 1.3076 respectively.

 

[RoboForex]

Japanese Candlesticks Analysis 06.09.2018 (EURUSD, USDJPY)
06.09.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD continues growing and forming Hammer, Harami, and Doji reversal patterns during pullbacks. At the moment, it may be assumed that these patterns indicate that the instrument completed another correction and may resume its rising tendency.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after rebounding from the resistance level once again, USDJPY has formed Hammer, Inverted Hammer, and Engulfing reversal patterns. Judging by the previous movement, it may be assumed that the instrument may complete the correction and start a new ascending tendency.

 

[RoboForex]

Forex Technical Analysis & Forecast 06.09.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
06.09.2018
EURUSD, “Euro vs US Dollar”

EURUSD is forming the fourth wave of the five-wave descending structure. Possibly, today the pair may reach the short-term target at 1.1660 and then fall towards 1.1606. After that, the instrument may resume growing to complete this wave at 1.1677 and then start the fifth one towards 1.1515.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has quickly returned to 1.2955. Today, the price may fall to reach 1.2870 and then start another growth towards 1.2920, thus forming another consolidation range. Later, the market may break it to the downside and resume falling with the target at 1.2600.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the correction. Possibly, today the pair may grow to reach 0.9727 and then start a new decline towards 0.9710, thus forming another consolidation range. After that, the instrument may break it to the upside to form the fifth wave with the target at 0.9777.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the descending structure and right now is trading towards 111.14, thus forming another consolidation range. If the instrument breaks this range to the downside, the price may continue forming the third wave with the target at 109.77.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7180. If later the instrument breaks this range to the upside, the price may resume growing towards 0.7256; if to the downside – continue falling with the target at 0.7130.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trying to break 68.29 upwards; it is forming a new consolidating range there. If the instrument breaks this range to the upside, the price may resume growing with the short-term target at 69.27 and then fall to return to 68.29. Later, the market may form a new ascending structure to reach 69.60.

XAUUSD, “Gold vs US Dollar”

Gold has reached the predicted upside target. Possibly, today the pair may form a new descending structure as the fifth wave with the target at 1186.22. After that, the instrument may start another growth towards 1199.00.

BRENT

Brent is still consolidating around 77.45. If later the instrument breaks this range to the upside, the price may resume trading inside the uptrend with the short-term target at 80.50; if to the downside – continue the correction to reach 75.55.