RBFX Support

USDCAD rebounds from five-month low: declining oil prices may hurt Canada’s economy The USDCAD pair has been on an upward trend. The Canadian dollar is pressured by weak forecasts for commodity exports and currency inflows. Discover more in our analysis for 4 September 2024. USDCAD technical analysis The USDCAD H4 chart shows that the market has reached the downward wave’s local target of 1.3400. A correction is forming towards the 1.3570 level and is expected to be completed today, 4 September 2024. The USDCAD pair has strengthened its position. The market took advantage of worsening oil market conditions and supported the US dollar position. Read more - USDCAD 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) is under pressure but holds above the crucial support level XAUUSD price fell below 2,500 USD on Tuesday but stayed above the significant 2,470-2,480 USD support area. The market will focus on US employment data on Thursday and Friday. Find out more in our XAUUSD analysis for today, 4 September 2024. XAUUSD forecast: key trading points Market focus: market participants await US employment statistics at the end of the week Current trend: although gold is trading within an uptrend, there are risks of a downward correction XAUUSD forecast for 4 September 2024: 2,532 and 2,470 Fundamental analysis XAUUSD quotes are trading within an uptrend, supported by the beginning of US Federal Reserve monetary policy easing. However, gold has yet to reach the all-time high of 2,532 USD, as it encounters active selling pressure near this level. The US employment market statistics due Thursday and Friday may influence future asset movements. Automatic Data Processing Inc. (ADP) will publish employment data on Thursday, while nonfarm payrolls and the unemployment rate will be released on Friday. A decline in employment could weaken the USD and help strengthen gold. Conversely, job growth could support the US dollar and push XAUUSD into a downward 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

EURUSD analysis: EURUSD falls as market bets on ECB policy easing The EURUSD pair has experienced a decline for the third consecutive trading day, reflecting investor sentiment towards potential policy easing by the European Central Bank (ECB). With inflation trends supporting this outlook, market participants are increasingly expecting an ECB interest rate cut in September. EURUSD technical analysis The EURUSD H4 chart shows that the market has formed a consolidation range around 1.1050 and extended it to 1.1076. The price is expected to decline to 1.1050 and break below the range today, 3 September 2024, expanding the wave towards 1.1025 The EURUSD pair remains under significant selling pressure, with the market's focus on the upcoming ECB 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

USDCHF: the US dollar awaits a chance to strengthen The release of Switzerland’s CPI and GDP data and the US PMI data may help the US dollar strengthen its position. Find out more in our analysis dated 3 September 2024. USDCHF forecast: key trading points Switzerland’s Consumer Price Index (m/m) for August: previously at -0.2%, projected at 0.1% Switzerland’s GDP (q/q): previously at 0.5%, projected at 0.5% US manufacturing PMI: previously at 49.6, projected at 48.0 USDCHF forecast for 3 September 2024: 0.8572 Fundamental analysis The Consumer Price Index reflects the dynamics of consumer prices for goods and services. Investors view a higher-than-expected reading as a positive factor for economic health, while a weaker-than-expected reading is considered negative. For August, Switzerland’s Consumer Price Index (m/m) is projected to return to positive territory. The previous reading was -0.2%, while a forecast for 3 September 2024 is optimistic, suggesting 0.1%. A stronger-than-expected actual CPI reading may strengthen the Swiss franc. GDP reflects the aggregate value of all goods and services produced in a country (only end products are considered, excluding the costs of raw materials). Switzerland releases quarterly GDP changes in percentage terms, demonstrating the economy’s comprehensive dynamics. Analysis for 3 September 2024 suggests that the GDP reading may remain flat at 0.5%, and the actual figure will show whether expectations are realised. An increase in the indicator may help strengthen the Swiss franc against the US dollar, while a decrease in GDP will drive further growth in the USDCHF rate. The US manufacturing PMI evaluates the activity of purchasing managers in the industrial sector, reflecting the state and the dynamics of industrial processes. According to a preliminary estimate, the index is expected to decrease to 48.0 points. Given that figures have been decreasing for the past several months, the actual reading in the current period may be equal to or below the projected value. 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 below 2,500 USD, but the trend remains upward Despite XAUUSD's price falling below 2,500 USD on Monday, growth prospects remain. This week, market participants are closely watching the latest XAUUSD news, particularly focusing on US employment data, which is expected to significantly impact the XAUUSD outlook. XAUUSD technical analysis On the H4 chart, XAUUSD is trading within an ascending price channel just below 2,500 USD but above the upper boundary of the completed triangle pattern. Although XAUUSD has fallen below 2,500 USD, there is still potential for growth. This week, market participants will focus on the US employment market data, which could drive further gold price movements. 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

EURUSD: the euro attempts to regain ground on US Labor Day The eurozone’s PMI and the US holiday may not weaken the US dollar. Find out more in our EURUSD forecast dated 2 September 2024. EURUSD forecast: key trading points Today is US Labor Day The eurozone’s manufacturing PMI for August: previously at 45.6, projected at 45.6 EURUSD forecast for 2 September 2024: 1.1005 and 1.1096 Fundamental analysis Today is a holiday in the US due to Labor Day, which may give the euro a chance to strengthen against the US dollar, as many US traders are unlikely to participate in trading. The PMI index evaluates the activity of purchasing managers in the industrial sector. This index reflects the state of the industry and the dynamics of industrial processes in the eurozone. Traders closely follow this data as purchasing managers are the first to receive information about their companies’ operations, making the PMI a crucial measure of the general economic situation. Readings above 50.0 points indicate industrial growth, while values below 50.0 points suggest a downturn. EURUSD analysis for 2 September 2024 shows that the PMI index may remain flat at 45.6, indicating some stability in the industrial sector. However, as it is still below 50.0 points, it is unlikely to impact the EURUSD rate positively. Investors await a decision on the Federal Reserve interest rates, due on 18 September 2024. US inflation data remains stable; analysts suggest a 50-basis-point change is unlikely at this stage. 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 falls to a two-week low: the market assesses risks The EURUSD pair declined on Friday, supported by robust US macroeconomic data. Read more in our analysis for 30 August 2024. EURUSD technical analysis On the H4 chart, EURUSD quotes have reached a local target at 1.1055. An upward correction to 1.1121 (a test from below) is possible today, 30 August 2024. Following this, a further decline towards 1.1040 is expected, marking the first decline phase. EURUSD may interrupt its five-week rally and close the week with a decline. Technical indicators for today’s EURUSD forecast suggest a possible correction to 1.1121, followed by a decline to 1.1040. 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 forecast: investors anticipate BoJ rate hike The USDJPY pair is experiencing a slight correction on Friday after two consecutive days of gains. To understand the latest market movements, delve into our analysis for 30 August 2024. USDJPY forecast: key trading points Japan's unemployment rate for July 2024 increased to 2.7%. Core CPI in Tokyo rose by 2.4% in August 2024 Japan's industrial production grew by 2.8% in July 2024, rebounding from a significant decline USDJPY forecast for 30 August 2024: 141.60, 139.70, and 137.77 Fundamental analysis The USDJPY rate was buoyed by recent US GDP and Initial Jobless Claims data, alleviating recession concerns and bolstering the USD. Concurrently, Japan's economic data fuelled expectations of a potential BoJ interest rate hike, which could strengthen the yen within today's USDJPY forecast. Japan's unemployment rate increased to 2.7% in July 2024, up from 2.5% in June, marking the highest level since August 2023. Tokyo's core consumer price index rose at an annualised rate of 2.4% in August 2024, marking the fourth consecutive month of acceleration and surpassing market expectations of a 2.2% increase. Retail sales in Japan grew at an annualised rate of 2.6% in July 2024, slowing from June's 3.8% rise and falling short of the anticipated 2.9% growth. Japan's industrial production expanded by 2.8% in July 2024, recovering from a sharp -4.2% decline. However, this growth fell short of the forecasted 3.3% (according to preliminary data). 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 remains in a consolidation phase: the market is conserving strength The USDJPY pair has remained within a sideways range for the fourth consecutive session. Investors have adopted a waiting mode as there has been no significant news. Find out more in our analysis dated 29 August 2024. USDJPY technical analysis The USDJPY H4 chart shows that the market continues developing a consolidated range around 145.70 without establishing a clear trend. The price could rise to 145.45 today, 29 August 2024. Subsequently, the range is expected to expand to 143.40. The USDJPY pair is consolidating while the news stream is limited, and the macroeconomic calendar is empty. Technical indicators in today’s USDJPY forecast suggest a potential decline to the 141.60, 139.70, and 137.77 levels. 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: US GDP data may trigger a correction in the pair ECB officials’ speeches, US initial jobless claims, and the GDP data release could heat today’s market. Find out more in our analysis dated 29 August 2024. EURUSD forecast: key trading points A speech by European Central Bank official Isabel Schnabel A speech by European Central Bank official Philip R. Lane The Eurogroup meeting US initial jobless claims: previously at 232,000, projected at 232,000 Q2 US GDP: previously at 1.4%, projected at 2.8% EURUSD forecast for 29 August 2024: 1.1090 and 1.1150 Fundamental analysis The EURUSD analysis for 29 August 2024 shows that the market is awaiting a large set of economic data from the eurozone, including speeches by ECB officials, Schnabel and Lane, and the Eurogroup meeting. ECB officials’ speeches often indicate future monetary policy and economic expectations, and increased market volatility can be expected during them. A set of data, including US initial jobless claims, will be released after the US trading session opens. A preliminary forecast suggests that the figure will remain flat at 232,000, which may support the US dollar’s strength against the euro. GDP is the aggregate value of all goods and services produced in a country. Only end products are considered, excluding the production of raw materials. The forecast for 29 August 2024 suggests a 2.8% increase in US GDP, double the previous reading. If actual data aligns with expectations, the EURUSD rate could decline markedly. 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

USDCAD remains weak as the market tests lows last seen on 8 March 2024 The USDCAD pair fell to a six-month low, primarily driven by the weakness of the US dollar. However, current developments are not particularly favourable for the Canadian dollar either. Find out more in our analysis dated 28 August 2024. USDCAD technical analysis The USDCAD H4 chart shows that the market maintains its downward trajectory without a significant correction. The market has formed a consolidation range around 1.3485 and broke below its lower boundary today, 28 August 2024, pushing the USDCAD rate down to 1.3440. The USDCAD pair fell to a six-month low and is poised for a further decline. Technical indicators in today’s USDCAD forecast suggest that the downward wave could continue to the 1.3366 and 1.3263 levels. Read more - USDCAD 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: risks of a correction are increasing The EURUSD rate declined after unsuccessful attempts to rise above 1.1200. Find out more in our analysis dated 28 August 2024. EURUSD forecast: key trading points Investor confidence in a 50-basis-point Federal Reserve interest rate cut grows The preliminary Q2 US GDP estimate is expected to show an increase of 2.8% The core Personal Consumption Expenditures price index is projected to rise by 2.7% EURUSD forecast for 28 August 2024: 1.1150 and 1.0980 Fundamental analysis The EURUSD rate fell below 1.1150 on Wednesday morning, potentially signalling a downward correction. However, as part of today’s EURUSD forecast, the US dollar remains under pressure due to growing expectations of a Federal Reserve interest rate cut and concerns about US recession risks. Investors are confident that the Federal Reserve will lower interest rates as early as next month after Chair Jerome Powell’s dovish comments last week. Now, the focus is on whether this will be a 50-basis-point rate cut. According to the FedWatch tool from CME Group, the likelihood of such a significant interest rate reduction has increased to 36% from 29% a week ago. At the end of the trading week, traders will focus on economic indicators. The preliminary Q2 US GDP estimate is due tomorrow, with the economy expected to grow by 2.8%. The core PCE price index, the Federal Reserve’s preferred inflation gauge, will be released on Friday. It is projected to increase to 2.7% from the previous 2.5%. According to analysts, the inflation rate would need to significantly exceed expectations to change forecasts for several interest rate cuts by the regulator. 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 remains at highs: the market turns against the US dollar The EURUSD rate has resumed growth following a correction, with the main movements around 1.1168. Concerns about the Middle East have dampened investor optimism about an imminent Federal Reserve interest rate cut. EURUSD technical analysis The EURUSD H4 chart shows that the market has declined to 1.1150 and corrected towards 1.1178. Another corrective movement is possible today, 27 August 2024, aiming for 1.1181. Although the EURUSD pair returns to an annual high, market sentiment could depend on external factors. Technical indicators in today’s EURUSD forecast suggest a potential decline to 1.1150, possibly continuing to 1.0980. 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 price begins to rise, surpassing 80.00 USD Brent price is experiencing steady growth, surpassing 80.00 USD per barrel; today, the focus is on the API oil stock data. Find out more in our Brent analysis for today, 27 August 2024. Brent forecast: key trading points US data: the market awaits the API US oil inventory statistics today Brent forecast for 27 August 2024: 78.00 and 81.70 Fundamental analysis Brent quotes have halted their decline and reversed upwards, finding support at a local daily low of 75.00 USD. Oil prices are being supported by a rise in stock markets, driven by the US Federal Reserve’s intention to start a monetary policy easing cycle, with the first rate cut in September. Brent price will depend on US oil stock data from the American Petroleum Institute (API) during today’s American session. At the same time, the Energy Information Administration (EIA) will provide market participants with oil inventory statistics tomorrow. After the release of these figures, volatility in oil prices may increase. 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 rises amid potential easing of US monetary policy The GBPUSD rate hit a new two-year high on Friday after Federal Reserve Chair Jerome Powell hinted at an imminent US interest rate cut. EURUSD technical analysis The GBPUSD H4 chart shows that the market has formed a narrow consolidation range around 1.3103 and, breaking above it, reached the growth wave’s target of 1.3220. Nearly the entire growth wave potential has been exhausted. Powell’s comments on a US interest rate cut and signs of a recovering UK economy propelled the GBPUSD pair to a two-year high. 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

Gold (XAUUSD) rises steadily, trading above 2,500 USD per troy ounce XAUUSD price closed the previous week above 2,500 USD, exhibiting a steady uptrend driven by fundamental factors. Find out more in our XAUUSD analysis for today, 26 August 2024. XAUUSD forecast: key trading points Market focus: gold reached a new all-time high of 2,532 USD last week Current trend: gold is trading in a strong uptrend, with growth likely to continue XAUUSD forecast for 26 August 2024: 2,532 and 2,483 Fundamental analysis XAUUSD quotes showed sustained growth last week, reaching a new all-time high of 2,532 USD. The rise in gold prices was primarily driven by demand from global central banks and heightened expectations of a Federal Reserve interest rate cut this year. In his speech at the recent Jackson Hole Symposium, Federal Reserve Chair Jerome Powell confirmed the beginning of a monetary policy easing cycle. A September interest rate cut is a done deal, while further Fed actions will depend on economic data. Market participants expect at least one more interest rate reduction by the end of the year. 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: the yen strengthens following the Bank of Japan governor’s speech The USDJPY pair continues to decline following Kazuo Ueda’s statements on the interest rate hike in Japan. In contrast, the Federal Reserve is considering lowering interest rates. Find out more in our analysis dated 23 August 2024. USDJPY technical analysis The USDJPY H4 chart shows that the market continues to form a consolidation range above the 145.00 level. This range could extend up to 147.00 and down to 144.44 today, 23 August 2024. A breakout below the range could trigger a downward move towards 142.88. The Bank of Japan governor’s statement, the upcoming speech by the Fed’s chair, and the USDJPY technical analysis in today’s USDJPY forecast suggest that a consolidation range above 145.00 could persist. 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) retraces after reaching an all-time high of 2,532 USD, but the uptrend may resume Although XAUUSD’s price dropped below 2,500 USD as part of a correction on Thursday, the prospects for further growth remain. Find out more in our XAUUSD analysis for today, 23 August 2024. XAUUSD forecast: key trading points Market focus: market participants await today’s speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium Current trend: gold is trading in a strong uptrend, with growth likely after the correction XAUUSD forecast for 23 August 2024: 2532 and 2450 Fundamental analysis XAUUSD quotes retraced, dropping below 2,500 USD during Thursday’s trading. The recent strong growth in gold prices was largely driven by increased expectations of a Federal Reserve interest rate cut this year. The current correction may be due to profit-taking by some investors. Federal Reserve Chair Jerome Powell will deliver a speech at the Jackson Hole Symposium today. The Fed’s decisive stance on future interest rate reductions will provide gold with additional upward momentum. Conversely, if his speech raises doubts about future cuts, this may strengthen the US dollar and prompt further correction in the XAUUSD price. 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 reaches a new annual high: the US dollar suffers heavy losses The EURUSD pair has skyrocketed to levels last seen in December 2023. The US dollar remains under tremendous pressure. Find out more in our analysis dated 22 August 2024. EURUSD technical analysis The EURUSD H4 chart shows that the market has broken above the 1.1135 level and completed a growth wave, reaching 1.1173. The EURUSD rate is expected to decline to 1.1135 (testing from above) today, 22 August 2024. The EURUSD pair is reaching 2024 highs and continues to climb. Technical indicators in today’s EURUSD forecast suggest that the growth wave could extend to 1.1195, marking the completion of growth potential. 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 likely to rise further The Australian dollar may benefit from the forecasted rise in unemployment and a decline in the US PMI. Find out more in our analysis dated 22 August 2024. AUDUSD forecast: key trading points Australia’s manufacturing PMI: previously at 47.5, currently at 48.7 Australia’s services PMI: previously at 50.4, currently at 52.2 US services PMI: previously at 55.0, projected at 54.0 US initial jobless claims: previously at 227,000, projected at 232,000 AUDUSD forecast for 22 August 2024: 0.6764, 0.6555, 0.6416, and 0.6200 Fundamental analysis The Purchasing Managers’ Index reflects a country’s level of manufacturing activity over the previous period. A reading above 50.0 indicates economic growth, while a reading below 50.0 signals a contraction. Australia’s current manufacturing PMI is 1.2 points higher than the previous reading. Although theoretically this increase could be considered a positive sign for the Australian dollar, the index remains below the 50.0 level, which is a negative factor. Australia’s services PMI also rose from the previous reading, coming in at 52.2 points. Overall, the fundamental analysis of Australia’s data for 22 August 2024 is positive for the AUDUSD rate. The US services PMI is projected to decrease to 54.0 from the previous reading. According to the forecast, US initial jobless claims are expected to increase to 232,000 from 227,000 over the past week. Overall, today’s AUDUSD forecast may be considered favourable for the Australian dollar. However, it is essential to note that the US will release data today, which could affect the market situation. 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 forecast: XAUUSD is trading above 2,500 USD; the market awaits the Fed’s minutes XAUUSD price continued its surge on Tuesday, reaching a new annual and all-time high of 2,532 USD. Today, the market’s focus is on the release of the Federal Reserve minutes. Find out more in our XAUUSD analysis for today, 21 August 2024. XAUUSD fundamental analysis XAUUSD quotes are experiencing a strong uptrend, regularly reaching all-time highs. A triangle price pattern has formed on the H4 chart, which could signal a continuation of the XAUUSD price growth, with an approximate target at 2,600 USD per troy ounce XAUUSD analysis shows that gold continues to rise steadily, reaching a new all-time high of 2,532 USD. The market is focused on the release of the Federal Reserve’s July meeting minutes, which may affect the XAUUSD forecast further. 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

USDJPY is at a two-week low: the US dollar remains weak The USDJPY pair continues to decline, with sentiment towards the US dollar decreasing. Find out more in our analysis dated 21 August 2024. USDJPY forecast: key trading points The USDJPY pair weakens further Investors are focused on the upcoming decisions of the US Federal Reserve USDJPY forecast for 21 August 2024: 147.77, 150.55, and 156.00 Fundamental analysis The USDJPY rate dipped to 145.72 on Wednesday, marking a two-week low. The Japanese yen appears relatively strong, but this is largely because the US dollar is currently unattractive. Investors believe the US Federal Reserve will soon be compelled to reduce borrowing costs to avoid an economic downturn. Today, attention is on the Federal Reserve’s latest meeting minutes. Subsequently, investors will watch the speech by Federal Reserve Chair Jerome Powell, which is due on Friday. The possibility of the Bank of Japan hiking interest rates remains under review. At the end of the week, BoJ official Kazuo Ueda will clarify his actions in a speech to the Japanese parliament. The USDJPY forecast suggests that the yen will remain in a strong position. 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: the US dollar strengthens again; the yen loses ground The USDJPY pair is attempting to regain ground after a decline. The Japanese prime minister elections are scheduled for 27 September. Find out more in our analysis dated 20 August 2024. USDJPY forecast: key trading points The forecast for 20 August 2024 shows that the market has corrected towards 145.20 on the USDJPY H4 chart. This level is considered a minimum for the correction, with a decline to 145.00 being possible. The FOMC member’s speech, the elections in Japan, and the USDJPY technical analysis in today’s USDJPY forecast suggest a growth wave towards the 150.55 and 156.00 levels. 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: employment market risks prompt the Fed to lower interest rates The EURUSD rate slightly declines following two trading sessions of growth. Find out more in our analysis dated 20 August 2024. EURUSD forecast: key trading points The EURUSD pair corrects after two trading sessions of growth and reaching a 33-week high Investors refrain from making aggressive investment decisions ahead of a speech by Federal Reserve Chair Jerome Powell Analysts suggest the Federal Reserve may lower interest rates by 25 or 50 basis points in September EURUSD forecast for 20 August 2024: 1.0980, 1.0933, and 1.0880 Fundamental analysis After the EURUSD pair reached a 33-week high, its growth slowed. Investors preferred to refrain from making significant bets ahead of Federal Reserve Chair Jerome Powell’s speech expected on Friday. Traders are eagerly awaiting the release of the latest FOMC minutes scheduled for Wednesday as they should provide insight into further monetary policy actions. Analysts believe that the regulator may reduce interest rates as early as September. However, it is still unclear whether this will be a 25 or 50-basis-point cut. The market has probably already priced in a 25-basis-point cut, while a stronger tightening could drive a surge in the EURUSD rate. Meanwhile, Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday it was appropriate to discuss a September interest rate cut due to increasing employment market risks. Federal Reserve Bank of San Francisco President Mary Daly and Federal Reserve Bank of Chicago President Austan Goolsbee supported this opinion in their statements, hinting at a potential move as early as next month. Today’s EURUSD forecast shows that such statements exert pressure on 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 is on the rise: investors bet on Fed’s softness The EURUSD rate continues its ascent. The primary currency pair is developing a real rally, driven by a relatively soft tone of the US Federal Reserve. Investors hope to find confirmation of this in the last meeting minutes due this Wednesday. Federal Reserve Chair Jerome Powell is also expected to deliver a speech on Friday. EURUSD technical analysis The EURUSD H4 chart shows that the market has completed a growth structure at 1.1012 and formed a consolidation range. After breaking above the range, the market maintains its upward trajectory, aiming for 1.1042. The EURUSD pair maintains upward momentum. Technical indicators in today’s EURUSD forecast suggest that the growth wave will be complete at 1.1042, followed by a decline to the 1.0980, 1.0930, and 1.0880 levels. 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