Forex Technical Analysis & Forecast 03.08.2022

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.0190 and then forming a new consolidation range around this level, EURUSD has broken it to the downside. Later, the market may resume trading downwards with the target at 1.0100, or even extend this structure down to 1.0080.

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Murrey Math Lines 05.08.2022 (Brent, S&P 500)

BRENT

As we can see in the H4 chart, Brent is trading within the “oversold area”. In this case, the price is expected to break -1/8 and continue moving upwards to reach the resistance at 1/8. However, this scenario may no longer be valid if the asset breaks the support at -2/8 to the downside. After that, the lines in the chart will be redrawn, thus helping us to define new downside targets.

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Murrey Math Lines 09.08.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and resume falling to return to the support at 4/8.

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Ichimoku Cloud Analysis 11.08.2022 (EURUSD, XAUUSD, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is no longer moving inside the Triangle pattern. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0245 and then resume moving upwards to reach 1.0505. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.0155. In this case, the pair may continue falling towards 1.0065.

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Ichimoku Cloud Analysis 15.08.2022 (EURUSD, NZDUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD is correcting within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.0205 and then resume moving upwards to reach 1.0445. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.0145. In this case, the pair may continue falling towards 1.0055.

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Forex Technical Analysis & Forecast 17.08.2022

EURUSD, “Euro vs US Dollar”

Having expanded the consolidation range down to 1.1022, EURUSD is growing to expand it upwards. Possibly, the pair may reach 1.0222 and then start another decline with the target at 1.0080.

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Japanese Candlesticks Analysis 19.08.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns close to the resistance level, such as Engulfing, USDCAD may reverse in the form of a new descending impulse. In this case, the downside target may be at 1.2910. Later, the market may break this level and continue falling. However, an alternative scenario implies that the asset may grow to reach 1.3025.

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Murrey Math Lines 23.08.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading below it to indicate a possible descending tendency. In this case, the price is expected to test 4/8, break it, and then continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may reverse and resume growing towards 7/8.

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Ichimoku Cloud Analysis 25.08.2022 (EURUSD, USDJPY, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is rebounding from Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the bullish channel’s upside border at 1.0040 and then resume moving downwards to reach 0.9780. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0165. In this case, the pair may continue growing towards 1.0250. To confirm a further downtrend, the price must break the bullish channel’s downside border and fix below 0.9985.

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Ichimoku Cloud Analysis 29.08.2022 (EURUSD, USDJPY, AUDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is testing the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9985 and then resume moving downwards to reach 0.9725. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0165. In this case, the pair may continue growing towards 1.0255.

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Murrey Math Lines 01.09.2022 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the pair is expected to test 8/8, break it, and the continue falling towards the support at 7/8. However, this scenario may be cancelled if the price breaks the resistance at +1/8 to the upside. After that, the instrument may move upwards to reach +2/8.

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Ichimoku Cloud Analysis 05.09.2022 (GBPUSD, USDJPY, NZDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

The pair is pushing off the signal lines of the indicator. It rests under the Ichimoku Cloud, indicating a downtrend. A test of the Kijun-Sen line is expected at 1.1585, followed by falling to 1.1150. An additional signal confirming the decline will be a bounce off the upper border of the bearish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.1795, which will mean further growth to 1.1885.

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