RBFX Support

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 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

USDJPY develops upward momentum: the dollar has become the market favourite USDJPY remains on the upside. Powell and Ishiba supported the USD. Read more in our USDJPY analysis for 1 October 2024. USDJPY forecast: key trading points The USDJPY pair has been ‘in the plus’ for the second consecutive day Powell’s comments have reinforced support for the US dollar USDJPY forecast for 1 October 2024: 144.47 Fundamental analysis On 1 October 2024, the USDJPY rose to 144.29, marking the second session in a row with the yen declining against the dollar. Federal Reserve Chairman Jerome Powell provided support to the US dollar with his comments, signaling that a rapid reduction of interest rates in the US is not expected. Powell indicated that the Fed might opt for a 25 basis point rate cut in its two remaining meetings this year. The Fed has shifted its outlook from a ‘hard’ rate stance to a softer, more adaptable approach, leading the market to reevaluate its position. In Japan, political comments from Shigeru Ishiba, former defence minister, added pressure on the yen. Ishiba emphasised that Japan's fiscal policies should remain flexible, reflecting the nation's current economic conditions. The USDJPY outlook continues to favour the US dollar, and further gains are anticipated. RoboForex Market Analysis & Forex Forecasts 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 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

EURUSD rises amid US inflation slowdown The EURUSD rate is strengthening but remains at a strong resistance level of 1.1200. Read more in our analysis for 30 September 2024. EURUSD forecast: key trading points The Personal Consumption Expenditure (PCE) index rose by 0.1% in August, while the annual growth was 2.2% The Core PCE index increased by 0.1% month-on-month and 2.7% year-on-year in August Initial jobless claims fell to 218k, a 4-month low The likelihood of the Fed rate cut by 50 basis points decreased to 54%, and a cut by 25 basis points increased to 46% EURUSD forecast for 30 September 2024: 1.1222 Fundamental analysis EURUSD is slightly higher on Monday as the US dollar remained under pressure amid poor economic data reinforcing expectations of further Federal Reserve rate cuts. The US Personal Consumption Expenditures (PCE) price index increased 0.1% in August compared to July, while the annualised growth rate was the lowest since February 2021, at 2.2%, versus the forecasted 2.3%. The Core PCE (Core Personal Consumption Expenditures) price index, which does not include food and energy prices, also rose 0.1% in August from the previous month and increased by 2.7% annually. The Core PCE index is the Fed’s key indicator to assess inflation risks. At the same time, data on jobless claims demonstrated the labour market’s resilience. The number of initial applications for benefits decreased by 4,000 to 218,800, the lowest level for the last four months. Analysts had forecasted an increase to 223,400. Investors await the September US employment report for further signals about the Fed’s policy. The probability of a 50-basis-point interest rate cut at the next meeting fell to 54.0% from 60.3%, while the odds of a 25-point cut rose to 46.0% from 39.7%. Given the weakness of the US dollar and the regulator’s subsequent actions, today’s EURUSD forecast still holds potential for a breakthrough of the 1.1200 level. RoboForex Market Analysis & Forex Forecasts 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 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

NZDUSD forecast: the New Zealand dollar continues to lose ground against the US dollar Rising PCE and Michelle Bowman’s speech could support the US dollar - read more in our analysis for 27 September 2024. NZDUSD forecast: key trading points US Core PCE (YoY): Previously 2.6%, Forecasted 2.7% Speech by Michelle Bowman, member of the US Federal Open Market Committee (FOMC) CFTC NZD Net Speculative Positions: Previously -1.9K NZDUSD forecast for 27 September 2024: 0.6222 and 0.6140 Fundamental analysis The Core Personal Consumption Expenditures Price Index (Core PCE) is an economic indicator measuring changes in the cost of goods and services consumed by US households (excluding food and energy prices due to their high volatility). The index is one of the most important inflation indicators in the US, which the Federal Reserve System uses to assess economic conditions and make decisions on monetary policy. The previous value was 2.6% on an annualised basis. The forecast for 27 September 2024 suggests it may increase by 0.1% to 2.7%. Such expectations boost optimism among market participants, although the data may differ significantly. If the published statistics exceed forecasts, it will provide additional support to the US dollar and cause a decline in the NZDUSD exchange rate. Michelle Bowman, a member of the US Federal Open Market Committee (FOMC) and the Fed’s Board of Governors, is scheduled to deliver a speech. Her report may contain data on future US monetary policy. The Commodity Futures Trading Commission’s (CFTC) weekly report analyses the volume of speculative positions held by non-commercial traders in US futures markets. It reflects the difference between traders’ long and short NZD positions on the Chicago and New York trading floors. The CFTC report is published every Friday and covers data from as of Tuesday of the current week. The fundamental analysis for 27 September 2024 shows a notable decrease in positions in the last reporting period, indicating the likelihood of a trend reversal. However, the forecast remains uncertain until the actual data is published. RoboForex Market Analysis & Forex Forecasts 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. 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

AUDUSD strengthens due to China’s stimulus measures AUDUSD is regaining some of its lost ground after falling more than 1% the previous day. Read more details in our analysis for 26 September 2024. AUDUSD forecast: key trading points Support for the Chinese economy stimulates demand for Australian exports, which helps AUDUSD to strengthen The Australian Consumer Price Index declined to 2.7% in August, falling within the central bank’s target range The Reserve Bank of Australia maintains a tight policy, keeping the interest rate at 4.35% despite the falling inflation rate AUDUSD forecast for 26 September 2024: 0.6910 and 0.7017 Fundamental analysis The AUDUSD rate rose on Thursday after bouncing from the support level at 0.6815. According to analysts, the Australian dollar is strengthening due to China’s stimulus package, which may boost demand in Australia’s largest export market. Australia’s Consumer Price Index rose 2.7% year-on-year in August 2024, below market forecasts of 2.8% and worse than July’s 3.5%. This is the lowest inflation rate since August 2021 and the first time it has fallen within the central bank’s target range in three years. The inflation decline resulted from the energy bill compensation programme, which led to a 17.9% fall in electricity prices and a reduction in the cost of motor fuel. The Reserve Bank of Australia left the key rate at 4.35% at its September meeting and indicated that the current policy rate could be maintained for an extended period. However, the current slowdown in inflation reinforces expectations of a rate cut by the end of the year. Governor Michele Bullock has indicated that interest rates will remain unchanged for now. This hawkish stance sets the Reserve Bank of Australia apart from other central banks, including the US Federal Reserve, which has begun to ease its monetary policy to support the economy. For today’s AUDUSD forecast, this may support the pair’s growth. RoboForex Market Analysis & Forex Forecasts 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’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

Gold (XAUUSD) continues its upward rally; price climbs above 2,650 USD The XAUUSD price reached a new all-time high this morning at 2,670 USD. The trend for gold remains upward, though a downward correction may start soon – read about it in our XAUUSD analysis for today, 25 September 2024. XAUUSD forecast: key trading points Market focus: gold is steadily rising following the US Fed rate cut Current trend: a strong uptrend is underway XAUUSD price forecast for 25 September 2024: 2,640 and 2,700 Fundamental analysis XAUUSD quotes are steadily rising, reaching a new all-time high of 2,670 USD after the US Fed cut its interest rate by 0.50% last week. The onset of the rate-cut cycle is putting pressure on the US dollar. Gold’s growth is also supported by weak economic data from the US – Yesterday’s Consumer Confidence index from the Conference Board was worse than expected: instead of the anticipated 103.9 points, the index came in at 98.7. As a result, the precious metal closed the day with solid gains against the US dollar. RoboForex Market Analysis & Forex Forecasts 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. 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

Brent crude oil continues its upward correction, trading near 74.00 USD The Brent price is experiencing an upward correction, bolstered by investor optimism following the recent Fed rate cut. However, despite the current correction, the overall trend remains downward, and further declines are possible. For more detailed insights, read our Brent analysis and market outlook for today, 24 September 2024. Brent forecast: key trading points US data: today, the market is anticipating the release of the API oil inventories data, which is expected to provide a significant indicator for the short-term direction of Brent prices Current trend: an upward correction of oil prices is underway within a broader downtrend Brent forecast for 24 September 2024: 75.00 and 70.00 Fundamental analysis Brent prices are seeing a corrective rise after finding support in the demand zone of 68.00-68.50 USD. This price rebound is driven by the US stock market strengthening and growing investor optimism over the Federal Reserve’s shift toward monetary easing. Today, all eyes are on the API’s report on oil reserves in the US, which could provide further news on Brent’s trajectory. A decline in inventories may offer short-term support for Brent prices, while an increase could generate a bearish signal, potentially accelerating the downtrend. Additionally, tomorrow’s report from the EIA will provide more clarity on the future Brent forecast. RoboForex Market Analysis & Forex Forecasts 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 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. 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

USDJPY rises: investors are uncertain about the Bank of Japan's position The USDJPY pair is continuing to rise. The yen lost more than 2% last week. Read more in our analysis for 23 September 2024. USDJPY forecast: key trading points USDJPY is steadily rising The yen is under pressure from the Bank of Japan's indecision USDJPY forecast for 23 September 2024: 145.55 and 146.76 Fundamental analysis USDJPY rose to 144.35 on Monday. Thus, the yen is extending last week's losses amid market confidence that the BoJ will not be too quick to raise the interest rate. An earlier BoJ meeting ended with the BoJ keeping borrowing costs unchanged at 0.25% p.a. At the same time, BoJ Governor Kazuo Ueda acknowledged some weakness in the economy. His tone was softer than at previous meetings, undermining the prospect of a rate hike at the October meeting. That said, investors still expect to see a rate hike at the December meeting. The yen also faced external pressure. After the US Fed reduced its rate, risk appetite increased. The forecast for USDJPY looks positive. Today is a holiday in Japan – Autumn Equinox Day. The country's markets are closed. RoboForex Market Analysis & Forex Forecasts 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 analysis: the market demonstrates risk appetite The NZDUSD pair continues to rise for the third consecutive day, driven by a weaker US dollar and positive risk sentiment. Below is our detailed NZDUSD forecast and analysis for 20 September 2024. NZDUSD technical analysis From a technical perspective, the NZDUSD pair is forming a consolidation range around the 0.6239 level on the H4 chart. Today's outlook for NZDUSD suggests the potential for an upside extension towards the 0.6262 level. The NZDUSD pair continues steadily climbing as investors show growing interest in risk. 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 analysis: euro strengthens despite positive US data The EURUSD rate is experiencing its third consecutive trading session of gains, although it remains below the critical resistance level of 1.1200. In this EURUSD analysis for 20 September 2024, we explore the latest market movements, provide a EURUSD forecast, and offer trading signals for the pair. EURUSD forecast: key trading points US jobless claims: the number of new jobless claims in the US dropped to 219k, the lowest in four months, reflecting a robust labour market Secondary home sales: US home sales declined by 2.5% in August, but lower mortgage rates might drive sales shortly Philadelphia Fed Manufacturing Index: the index rose unexpectedly to 1.7 in September, surpassing forecasts and possibly supporting the USD EURUSD forecast for 20 September 2024: the outlook remains bullish for today, with the euro expected to continue its upward trend, targeting a potential rise to 1.1222 Fundamental analysis The US dollar remains under pressure due to the start of the Federal Reserve’s rate-cut cycle, which may indicate a likely rise in the EURUSD pair. The 50 basis points cut, the first one since 2020, was more significant than expected by the market. Currently, the probability of the Fed lowering the interest rate by 50 basis points at the next meeting on 7 November 2024 is 42.9%, while the likelihood of a 25-basis point cut is 57.1%. The number of Americans filing for unemployment benefits for the first time fell by 12,000 last week to 219,000, the lowest level in four months. Economists had expected the figure to remain at 230k, and the current decline indicates a robust US labour market. Secondary home sales in the US fell 2.5% in August to 3.86 million homes at an annualised rate. Despite this decline, analysts believe that the recent reduction in mortgage rates could boost sales in the coming months. The manufacturing activity index released by the Federal Reserve Bank of Philadelphia showed an unexpected increase in September after a sharp drop in August, which could support the US Dollar within the EURUSD forecast for today. According to the latest data, the index of general industrial activity rose from a seven-month low of -7.0 in August to 1.7, exceeding the forecasts of economists who expected the index at -1.0. RoboForex Market Analysis & Forex Forecasts 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 maintains its upward momentum The Federal Reserve interest rate change and stabilising unemployment in Australia supported the Australian dollar. Find out more in our analysis for 19 September 2024. AUDUSD technical analysis The AUDUSD H4 chart shows that the market has pushed the price to 0.6819 on the fundamental background. The price has corrected towards 0.6737 today, 19 September 2024. Following the correction, a growth wave structure is forming, aiming for 0.6825 and potentially continuing towards 0.6855. The US interest rate cut and the AUDUSD technical analysis in today’s AUDUSD forecast suggest that the growth wave could continue towards the 0.6825 and 0.6855 levels. 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

USDJPY: markets await the Bank of Japan's decision The USDJPY rate is correcting after rebounding from the 143.40 resistance level. Find out more in our analysis for 19 September 2024. USDJPY forecast: key trading points Jerome Powell’s comments: further large interest rate cuts will not be the new standard US economic data expectations: focus on initial jobless claims and existing home sales The Bank of Japan decision: the current interest rate is expected to remain unchanged on Friday, but signals of future hikes are possible Japan’s inflation data: the core CPI is projected to decrease to 2.5%, potentially affecting BoJ’s further actions USDJPY forecast for 19 September 2024: 141.30, 139.10, and 137.77 Fundamental analysis Investors, who expected sharp fluctuations in the USDJPY rate after the US Fed interest rate cut, saw a more restrained reaction. The US dollar rate strengthened on comments from Federal Reserve Chair Powell that the regulator does not intend to rush to ease monetary policy and that a 50-basis-point rate cut will not become a regular occurrence. However, analysts believe the relative calm will not last long, with the markets likely to face unexpected fluctuations in the coming hours as rate expectations in other economies intensify. Investors will now be closely watching the upcoming US economic data, including initial jobless claims and existing home sales. Initial jobless claims are expected to decrease from 230,000 to 226,000. Such a slight reduction may signal stability in the employment market, which is a significant indicator for assessing the state of the US economy. Existing home sales are also projected to fall from 3.95 million to 3.91 million homes. The slowdown in the real estate market may be due to elevated interest rates, which make mortgage loans more expensive, reducing demand for home purchases. The Bank of Japan's monetary policy decision will also be in the spotlight on Friday and may significantly change today’s USDJPY forecast. The regulator is expected to maintain current monetary policy parameters, keeping the interest rate unchanged. However, the BoJ may signal potential future rate hikes, especially if inflation and economic indicators change noticeably. Investors are also keeping a close eye on Japan’s inflation data for August, which is due on Friday. The core CPI is projected to fall to 2.5%. This will indicate easing inflation, which will reduce the pressure on the BoJ when making further decisions. RoboForex Market Analysis & Forex Forecasts 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) trades near highs ahead of the Fed rate decision XAUUSD price remains near annual highs, awaiting the US Federal Reserve interest rate decision. Its announcement and the press conference of the Federal Reserve chair may give fresh momentum to the stock price. XAUUSD technical analysis The XAUUSD pair is trading within an uptrend on the daily chart, with the price currently hovering around 2,570 USD. After breaking above the sideways range last week, gold price is steadily rising, aiming for the target of the previously formed triangle pattern near 2,600 USD. Gold prices are rallying upwards, reaching the 2,590 USD level this week. Read more - XAUUSD 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

USDCAD: markets expect a faster interest rate cut by the Bank of Canada The USDCAD rate is declining on Wednesday after rebounding from the crucial resistance level. Find out more in our analysis for 18 September 2024. USDCAD forecast: key trading points Inflation in Canada eased to 2.0% in August, the lowest in 3.5 years Inflation data supports the Bank of Canada governor’s statements that the pace of interest rate cuts may be accelerated Housing starts in Canada fell by 22.3% to 217,000 in August, marking the lowest reading since November 2023 USDCAD forecast for 18 September 2024: 1.3695 Fundamental analysis The USDCAD rate is influenced by inflation data as investors are confident in further monetary policy easing by the Bank of Canada. Inflation in Canada continued to slow, reaching 2.0% in August. This is the lowest reading in the past 3.5 years and is in line with the regulator’s forecasts, which expected inflation to ease to 2.5% in the second half of 2024. However, analysts believe inflation may rise again as the August slowdown is partially due to falling global fuel prices. This data reinforces statements by Bank of Canada Governor Tiff Macklem about a potential acceleration of the pace of interest rate cuts amid concerns about the employment market and an expected fall in oil prices. The markets now anticipate a 50-basis-point interest rate cut, which may lead to sharp price fluctuations as part of the USDCAD forecast for today. However, high mortgage rates and rents continue to exert pressure on inflation, indicating ongoing challenges in the Canadian economy despite the overall inflation easing. This is further confirmed by the data on a sharp decrease in construction: housing starts fell by 22.3% to 217,000 in August 2024, the lowest since November 2023 and well below market expectations of 258,000. RoboForex Market Analysis & Forex Forecasts 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

USDCHF declines: the US dollar is in a disadvantageous position The USDCHF pair continues to fall, with the Swiss franc benefiting from the weakness of the US dollar. Find out more in our analysis for 17 September 2024. USDCHF technical analysis The USDCHF H4 chart shows that the market has completed a growth wave, reaching 0.8549. A corrective structure has fully formed today, 17 September 2024, aiming for 0.8434. A consolidation range is currently developing above this level. The USDCHF pair remains under pressure until the end of the US Federal Reserve meeting. Read more - USDCHF 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: expectations for a 50-basis-point Fed interest rate cut are growing The EURUSD rate is correcting after declining for three consecutive sessions, with losses exceeding 1.19%. Discover more in our analysis for 17 September 2024. EURUSD forecast: key trading points The likelihood of a 50-basis-point Federal Reserve interest rate cut is 69%, while the odds of a 25-basis-point rate reduction is 31% Investors are awaiting data on US retail sales and industrial production today, which are projected to decrease slightly Some analysts believe the US economy continues to grow, which may support the US dollar EURUSD forecast for 17 September 2024: 1.1115 and 1.1026 Fundamental analysis The EURUSD rate continues to test the 1.1130 level, with the US dollar remaining under pressure as investors await the crucial Federal Reserve meeting, where interest rates are expected to be cut for the first time since 2020. The markets have already priced in a possible 25-basis-point Federal Reserve interest rate cut. However, expectations are rising for a more significant 50-basis-point cut. According to the CME FedWatch tool, the likelihood of this event currently stands at 69%, up from 59% a day ago. The odds of a more modest 25-basis-point cut are estimated at 31%. Today, investors are awaiting the release of US retail sales and industrial production data to better assess the state of the economy. Forecasts suggest a slight decrease in the figures. According to some analysts, the US economy continues to grow, outperforming most other countries; hence, the US currency is not expected to weaken sharply. Nevertheless, BNP Paribas experts believe the situation may change if the US economy begins to slow down. In case of a possible recession, the Federal Reserve will likely lower interest rates more aggressively than other central banks, which may weaken the US dollar and increase its vulnerability. As shown by Goldman Sachs research, the US dollar typically strengthens if rates are reduced amid economic growth. It is also noted that the US currency shows strong positions if the Federal Reserve cuts rates simultaneously with other central banks. In the current situation, several major central banks are cutting rates, which may positively impact the US dollar movements as part of today’s EURUSD forecast. RoboForex Market Analysis & Forex Forecasts 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 rose: the Fed must be decisive The EURUSD pair has been rising for the third consecutive trading day. Investors are awaiting a 50-basis-point Federal Reserve interest rate cut. Find out more in our analysis for 16 September 2024. EURUSD technical analysis The EURUSD H4 chart shows that the market is forming a consolidation range around 1.1086. The market extended the range down to 1.1073 and up to 1.1104. The price could decline to 1.1055 today, 16 September 2024. After reaching this level, it might rise to 1.1128. The EURUSD pair strengthened its position, with further volatility expected amid the September Federal Reserve meeting. 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 continues to rise following a correction Improving UK house price index and US manufacturing index figures support the British pound. Discover more in our analysis for 16 September 2024. GBPUSD forecast: key trading points The Rightmove UK house price index (y/y): previously at -1.5%, currently at 0.8% NY Empire State Manufacturing Index (US): previously at -4.7 points, currently at -4.1 GBPUSD forecast for 16 September 2024: 1.3177 and 1.3199 Fundamental analysis A monthly change in the Rightmove UK year-over-year house price index was published on Monday, 16 September 2024. The indicator shows how much the average price of housing property for sale has changed. Figures above the forecast and previous data are a positive factor for the British pound. A weaker-than-expected reading reflects negative developments. The previous statistics came out below forecasts, while the current reading has now shifted to positive territory, reaching 0.8% and propelling the GBPUSD rate. The NY Empire State Manufacturing Index measures the development of the manufacturing sector in New York State. It is calculated based on a survey of 200 largest manufacturing enterprises. A reading above zero points to increased manufacturing activity, while the one below zero indicates a decline. Stronger-than-expected data may provide significant support to the US dollar. The forecast for 16 September 2024 suggests that the reading will remain in negative territory at -4.1, which is still negative for the US dollar. Fundamental analysis for 16 September 2024 does not provide arguments in favour of the US currency, so the pound sterling has every chance to continue its upward momentum after the correction. RoboForex Market Analysis & Forex Forecasts 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) is rising rapidly, reaching a new all-time high of 2,532 USD XAUUSD price exited a sideways range yesterday, subsequently surpassing an all-time high of 2,532 USD. Gold may continue its ascent. Find out more in our XAUUSD analysis for today, 13 September 2024. XAUUSD technical analysis The XAUUSD H4 chart shows a sideways price range, with boundaries at 2,532 USD and 2,470 USD. Following the release of US inflation data, gold prices rose and broke above the range’s upper boundary, indicating the potential for further upward movement. Gold prices are rising steadily, reaching an all-time high of 2,532 USD after the release of weaker-than-expected US inflation data. Read more - XAUUSD 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