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Forex Technical Analysis Forecast 16.08.2021

EURUSD, Euro vs US DollarAfter finishing the ascending wave at 1.1755 and breaking this level to the upside, EURUSD is expected to continue the correction towards 1.1800; right now, it is consolidating around the latter level. Possibly, today the pair may break this range to the downside to return to 1.1755 and then form one more ascending structure to reach 1.1780, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may resume falling with the target at 1.1700; if to the upside continue the correction towards 1.1827 and then form a new descending structure to reach the abovementioned target.GBPUSD, Great Britain Pound vs US DollarAfter rebounding from 1.3790 and completing the ascending wave at 1.3870, GBPUSD is trading downwards. Today, the pair may reach 1.3833 and then start another growth to reach 1.3890. Later, the market may form a new descending wave with the target at 1.3780.USDRUB, US Dollar vs Russian RubleUSDRUB is still consolidating around 73.33. Today, the pair may fall to break the downside border of the range at 73.10 and then continue falling with the target at 72.72.USDJPY, US Dollar vs Japanese YenAfter completing the descending wave at 109.45, USDJPY is consolidating around this level. Possibly, the pair may break the range to the downside and continue falling within the downtrend with the first target at 108.11. On the other hand, the price may break the range to the upside…

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