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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
