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Market Technical Analysis by RoboForex

GBPUSD forecast: USD remains under pressure

The GBPUSD rate has risen for the fourth consecutive trading session, remaining below the resistance level at 1.3340. Read more in our analysis for today - 23 September 2024.

GBPUSD technical analysis

On the H4 chart of GBPUSD, the market has formed a consolidation range around 1.3278. Currently, the range is extended downwards to the level of 1.3222 and upwards to the level of 1.3333. Today, 23 September 2024, we expect an upward exit from this range.

gbpusd-2024-09-23.png


Despite the positive UK retail sales data, falling consumer sentiment indicates potential risks for the UK economy, which may limit further GBPUSD growth.

Read more - GBPUSD Forecast

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.

Sincerely,
The RoboForex Team
 
EURUSD daily forecast: the market stabilises and finds its footing

EURUSD has stopped its downward momentum and appears to have found stability. Investors expect a period of consolidation. More insights can be found in our EURUSD analysis and forecast for 24 September 2024.

EURUSD technical analysis

On the H4 chart, EURUSD continues to develop within a consolidation range around the 1.1145 level. The range currently extends to 1.1082, with a potential test of the 1.1142 level from below.

eurusd-2024-09-24.png


The EURUSD pair has weathered a period of decline and is now stabilising.

Read more - EURUSD Forecast

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.

Sincerely,
The RoboForex Team
 
EURUSD analysis: weak economic data from Europe limits the pair’s growth

The EURUSD rate is correcting after testing a four-week high. Read more in our detailed EURUSD analysis for 25 September 2024, including key signals and market outlook.

EURUSD technical analysis

On the H4 chart, EURUSD broke through the 1.1180 level and continues its upward trajectory towards 1.1222, which represents a local target. Based on the technical EURUSD outlook for today, 25 September 2024, we anticipate a potential correction to 1.1144 after reaching this target.

eurusd-2024-09-25.png


EURUSD’s growth, driven by Fed rate cut expectations, could be limited by weak European economic data, which has heightened fears of a potential economic slowdown.

Read more - EURUSD Forecast

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.

Sincerely,
The RoboForex Team
 
USDJPY rises to a three-week high: trend gaining momentum

The USDJPY continues to exhibit upward momentum, climbing to a three-week high as the US dollar garners favour among investors. Read more in our analysis for 26 September 2024.

USDJPY technical analysis

On the H4 USDJPY chart, the market found support at 142.90 and continued to develop the growth wave. Today, on 26 September 2024, the market broke through the 144.34 level upwards. We can effectively state that the consolidation range has been breached upwards.

usdjpy-2024-09-26.png


The USDJPY pair is near a three-week peak due to an improved market sentiment towards the US dollar.

Read more - USDJPY Forecast

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.

Sincerely,
The RoboForex Team
 
EURUSD analysis: the pair is poised to rise as the US dollar declines for 4 weeks in a row

EURUSD is resuming its upward movement. The market is anticipating a significant easing of the Fed’s monetary policy in the future. Read more details in our analysis for 27 September 2024.

EURUSD technical analysis

On the H4 chart of EURUSD, the market received support at 1.1121. A growth wave to 1.1164 and a correction to 1.1125 have occurred. Today, 27 September 2024, the growth impulse to 1.1188 was realised. We expect the EURUSD to correct to 1.1155.

eurusd-2024-09-27.png


EURUSD may continue to grow. For the US dollar, it would mark the fourth week of decline.

Read more - EURUSD Forecast

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.

Sincerely,
The RoboForex Team
 
GBPUSD analysis: growth continues amid uncertain prospects

GBPUSD continues to grow, with the pound needing to break out of the sideways channel. Read more in our GBPUSD analysis and forecast for today, 30 September 2024.

GBPUSD technical analysis

On the H4 chart, GBPUSD continues to develop its growth structure within the ascending channel. GBPUSD has found support near the channel’s lower boundary at 1.3366, and the pair is now moving towards 1.3455. Today’s GBPUSD forecast suggests that this level should be reached, followed by a decline to 1.3380 (at minimum).

gbpusd-2024-09-30.png


GBPUSD is in an upward trend, though the rise is expected to be cautious.

Read more - GBPUSD Forecast

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.

Sincerely,
The RoboForex Team
 
Brent crude oil declines moderately, falling below 72.00 USD

Brent price failed to overcome the resistance level at 75.00 USD last week and turned downwards. The daily trend is downward, and the decline may continue - read about it in our Brent analysis for today, October 1, 2024.

Brent technical analysis

Brent oil completed its upward correction and reversed downward from the resistance level of 75.00 USD. Prices have since fallen to the 70.00 USD area, where temporary support from buyers was found. The daily trend remains bearish, suggesting further declines may occur.

brent-2024-10-01.png


Brent quotes have formed a downward reversal from the 75.00 USD resistance level. Today’s API oil reserves data could significantly influence Brent’s price forecast.

Read more - Brent Forecast

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.

Sincerely,
The RoboForex Team
 
EURUSD declines sharply: Middle East tensions make investors nervous

EURUSD is testing a four-week low. Investors are shying away from risk as tensions escalate. Read more in our detailed EURUSD forecast for 2 October 2024.

EURUSD technical analysis

On the H4 chart, the EURUSD rate has seen a strong downward impulse to the level of 1.1090. A consolidation range has formed around this level. A break below this range suggests the market could further develop a downside structure towards 1.0982

eurusd-2024-10-02.png


The EURUSD pair has fallen to a four-week low as market sentiment turns risk-averse.

Read more - EURUSD Forecast

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.

Sincerely,
The RoboForex Team
 
AUDUSD analysis: the market remains cautious as AUDUSD continues to decline

The AUDUSD is steadily moving away from its recent highs, with the strength of the US dollar applying consistent downward pressure on the Australian dollar (AUD). More details can be found in our AUDUSD analysis and forecast for 3 October 2024.

AUDUSD technical analysis

Regarding technical analysis, the H4 chart for the AUDUSD pair shows the first wave of decline targeting 0.6845. The price is consolidating around 0.6895 as of 3 October 2024, with an expected breakout to the downside towards the target level of 0.6845.

audusd-2024-10-03.png


AUDUSD is moving away from the 19-month high amid deteriorating external sentiment.

Read more - AUDUSD Forecast

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.

Sincerely,
The RoboForex Team
 
NZDUSD weakens amid challenges in New Zealand’s economy

NZDUSD has declined for the fourth consecutive trading session. A detailed analysis for 4 October 2024 provides insights into the key factors behind this movement.

NZDUSD technical analysis

On the H4 chart of the NZDUSD pair, the market has been on a wave of decline, hitting the level of 0.6207. The price action is close to reaching its calculated local target of the downward wave. As of 4 October 2024, consolidation is likely above the 0.6207 level.

nzdusd-2024-10-04.png


NZDUSD rate continues its downward trajectory, pressured by expectations of further monetary easing by the Reserve Bank of New Zealand.

Read more - NZDUSD Forecast

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.

Sincerely,
The RoboForex Team
 
EURUSD hits a 2-month low: the US dollar regains favour

The EURUSD pair continues to decline, with the market increasingly favouring the US dollar. Find out more in our analysis for 7 October 2024.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has reached the downward wave’s local target of 1.0951. A correction towards 1.1037 (testing from below) is possible today, 7 October 2024. Subsequently, another decline in the EURUSD rate could follow, with 1.0946 as the first target.

eurusd-2024-10-07.png


The EURUSD pair remains under intense pressure due to the growing market preference for the US dollar.

Read more - EURUSD Forecast

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.

Sincerely,
The RoboForex Team
 
USDJPY may undergo a correction: the market remains stable

The USDJPY pair is starting to undergo a correction as the US dollar appears overvalued. Find out more in our analysis for 8 October 2024.

USDJPY technical analysis

The USDJPY H4 chart shows the market forming a downward wave towards 146.60. The price is expected to reach this target level today, 8 October 2024, and then correct towards 147.90 (testing from below).

usdjpy-2024-10-08.png


The USDJPY pair has paused its rally, allowing the yen to stabilise.

Read more - USDJPY Forecast

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.


Sincerely,
The RoboForex Team
 
Gold (XAUUSD) continues to correct, falling to the area near 2,600 USD

The XAUUSD price continues to correct downwards following Friday’s positive US labour market data release. Today’s market focus is on the Fed meeting minutes. Our XAUUSD analysis for today, 9 October 2024, provides further details and insights.

XAUUSD technical analysis

Gold prices continue to correct moderately as part of the uptrend. A triangle technical pattern has formed on the H4 chart, and the quotes fell below its lower boundary at 2,630 USD yesterday. Subsequently, they declined to the target support area near 2,600 USD, where the quotes encountered demand from buyers.

xauusd-2024-10-09.png


Gold prices are moderately correcting downwards, edging down to the support area near 2,600 USD.

Read more - Gold Forecast

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.


Sincerely,
The RoboForex Team
 
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