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Forex Technical Analysis Forecast for August 2021

EURUSD, Euro vs US DollarThe pair reached the local goal of the wave of decline at 1.1750. The market is now forming a correction of the first wave of decline. It might test 1.1910 from below. When the correction is over, another structure of decline to 1.1600 might begin. The goal is main.GBPUSD, Great Britain Pound vs US DollarThe currency pair completed the first wave of decline to 1.3575. The market is now forming a correction of the previous declining wave. The correction should aim at 1.4000. When it is over, we expect the next wave of decline towards 1.3232. The goal is local.USDRUB, US Dollar vs Russian RubleThe currency pair broke through 73.43 from below and formed a consolidation area under this level. We expect the wave of decline to continue to 72.15. The goal is local. Then the pair might correct to 73.45 a test from below, followed by a decline to 71.62.USDJPY, US Dollar vs Japanese YenThe currency pair is trading in the first wave of decline to 108.05. Then a correction to 109.88 a test from below should happen, followed by a decline to 106.11. The goal is local.BRENTOil corrected to 67.70. The market is now developing another wave of growth to 78.00, probably followed by a link of correction to 73.20 and growth to 83.73. The goal is local.XAUUSD, Gold vs US DollarGold is trading in another wave of decline. A local goal at 1750.00 was reached, then a correction to 1739.90 was performed. Then the pair might technically return to 1830.00 a test from below,…

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