Japanese Candlestick Analysis for 06.08.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, "US Dollar vs Canadian Dollar"

USDCAD keeps correcting. At the resistance level, it has formed several reversal patterns, including a Harami. Going by the reversal signal, the pair might go on pulling back with the aim of the support level at 1.2428. However, the quotations might still grow to 1.2550 without testing the support level.

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Murrey Math Lines for 10.08.2021 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"

On H4, the quotations have reached the oversold area. We expect them to bounce off 0/8, which might end up in a correctional growth to the resistance level of 2/8. The scenario can be cancelled by a breakaway of 0/8 downwards, which will lead to further falling to the support level of -1/8.

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Fibonacci Retracement Analysis for 12.08 2021 (Brent, Dow Jones)

Brent

On D1, the market has tried to develop a downtrend twice after a divergence, yet every such movement turns into a flat. If the market does overcome the support level at the last fractal lows, the bearish dynamics will head for 23.6% (62.84), 38.2% (53.90), 50.0% (57.00), and 61.8% (39.35) Fibo. The resistance level is still the high of 77.47.

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Ichimoku Cloud Analysis 16.08.2021(EURUSD, GBPUSD, XAUUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1787; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1805 and then resume moving downwards to reach 1.1695. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be cancelled if the price breaks the cloud’s upside border and fixes above 1.1820. In this case, the pair may continue growing towards 1.1905. To confirm further decline, the asset must break the bullish channel’s downside border and fix below 1.1750.

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Forex Technical Analysis & Forecast 18.08.2021

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.1710, EURUSD is consolidating around this level. Possibly, today the pair may reach 1.1690 and then form one more ascending structure towards 1.1800. Later, the market may fall to break 1.1650 and then continue trading downwards with the target at 1.1600.

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Japanese Candlesticks Analysis 20.08.2021 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed several reversal patterns, including Hammer, not far from the support level. At the moment, EURUSD may reverse and start a new pullback. In this case, the correctional target may be at 1.1730. Later, the market may rebound from the resistance area and resume trading downwards. However, an alternative scenario implies that the price may break the support level and fall to reach 1.1616 without correcting towards the resistance area.

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Japanese Candlesticks Analysis 24.08.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the asset continues falling. After forming a Shooting Star pattern close to the resistance level, USDCAD is reversing and may resume falling towards the support area at 1.2580. However, an alternative scenario implies that the asset may continue growing to reach 1.2740 without testing the support area.

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Fibonacci Retracements Analysis 26.08.2021 (Brent, Dow Jones)

Brent

In the H4 chart, Brent is steadily moving upwards after convergence on MACD and has already reached 50.0% fibo. Later, the asset may continue growing towards 61.8% fibo at 72.72. This ascending movement should be considered as a correction, that’s why it may later be followed by a new decline to break the low at 65.03 and reach the mid-term 23.6% fibo at 62.90. The resistance is still close to the high at 77.48.

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Ichimoku Cloud Analysis 30.08.2021 (GBPUSD, NZDUSD, EURGBP)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3769; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3735 and then resume moving upwards to reach 1.3920. Another signal in favor 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 1.3655. In this case, the pair may continue falling towards 1.3565.

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Forex Technical Analysis & Forecast 01.09.2021

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1844 and then finishing the descending impulse at 1.1796, EURUSD is forming a new consolidation range above the latter level. If later the price breaks this range to the upside, the market may correct upwards to reach 1.1818; if to the downside – start a new decline with the short-term target at 1.1770.

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Japanese Candlesticks Analysis 03.09.2021 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the sideways tendency continues. After forming several reversal patterns, such as Hammer and Doji, not far from the support level, XAUUSD may reverse and start a new growth to reach the resistance area at 1850.00. At the same time, an opposite scenario implies that the price may continue falling towards 1790.00 before resuming its ascending tendency.

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Murrey Math Lines 07.09.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to continue moving upwards to reach the closest resistance at 7/8. However, this scenario may be cancelled if the price breaks 6/8 to the downside. After that, the instrument may reverse and correct towards the support at 5/8.

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