RBFX Support

Gold (XAUUSD) holds around record highs XAUUSD price remains elevated. Find out more in our XAUUSD analysis for today, 13 August 2024. XAUUSD price declined to 2,462 USD per troy ounce on Tuesday after hitting new peaks. Investors continue to seek gold as a safe-haven asset amid escalating geopolitical tensions, primarily in the Middle East. In the near term, the market will closely watch statistics, particularly the US Consumer Price Index data scheduled for release on Wednesday. These figures will provide further insight into the Federal Reserve’s future actions regarding interest rates. XAUUSD technical analysis The XAUUSD H4 chart indicates that the market has established a consolidation range around 2,426.62 and, after breaking above this level, reached the local target of 2,474.44 for the growth wave. The mid-term XAUUSD price forecast has been realised. Today. 13 August 2024, a correction towards 2,426.62 (testing from above) could continue. Once the correction is complete, a new growth wave could develop, targeting 2,488.94. Gold (XAUUSD) prices remain high. Technical indicators suggest a potential decline in XAUUSD quotes to 2,426.62, followed by a rise to 2,488.94. Read more - XAUUSD 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 is strengthening amid a mixed situation in Switzerland Although the USDCHF rate is rising for the second consecutive session, it has yet to secure a position above the resistance level. Find out more in our analysis dated 13 August 2024. USDCHF forecast: key trading points Switzerland’s consumer confidence index increased to -32.4 points in July 2024 Retail sales in the Swiss economy fell by 2.2% year-over-year in June Unemployment numbers increased in July 2024, reaching a four-month high USDCHF forecast for 13 August 2024: 0.8645 and 0.8505 Fundamental analysis The US dollar shows moderate strength. Tomorrow’s US Consumer Price Index could significantly influence forecasts for future Federal Reserve interest rate changes and increase volatility in the USDCHF rate. Analysts note that high CPI readings might limit an interest rate cut to 25 basis points, while low readings could lead to a reduction of 50 basis points or more in September. Switzerland’s consumer confidence index rose to -32.4 points in July 2024, up by 4.2 points from the previous value and significantly above analysts’ forecasts. This indicates increased optimism among the population, although the overall sentiment remains negative. Meanwhile, Switzerland’s retail sales unexpectedly decreased by 2.2% year-over-year in June 2024, marking a significant decline compared to the projected 0.5% growth and the previous reading. The number of unemployed people rose by 3,198 in July 2024, reaching a four-month high of 107,716. Although the unemployment rate remained low at 2.3%, this raised concerns among investors. According to the USDCHF forecast for today, Switzerland’s weak economic data may support the growth of the US dollar. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 for four days: risk appetite increases The GBPUSD pair has risen for four consecutive trading days, improving market sentiment. Find out more in our analysis dated 12 August 2024. The GBPUSD rate rose to 1.2766 on Monday. The market continues its recovery from the local low reached last week. Investors are assessing the likelihood of a Bank of England interest rate cut soon. Due to the specific nature of UK inflation, the pace of monetary policy easing might be half that of the Federal Reserve. The BoE will likely announce a 100-billion-pound (127 billion USD) asset reduction in its balance sheet over the 12 months from October 2024 to September 2025. This represents a very gradual pace of winding down stimulus. If the volume is reduced by 100 billion pounds, debt sales will amount to less than 13 billion. The balance sheet reduction will take considerable time. GBPUSD technical analysis Analysis for 12 August 2024 indicates that the GBPUSD pair has completed its first downward wave, reaching 1.2666. The market then rose to 1.2771. A consolidation range is expected to develop above this level today. If there is an upward breakout, a correction could extend to 1.2870. Once the correction is complete, a new downward wave might begin, aiming for 1.2640. A breakout below this level would open the potential for a wave towards the local target of 1.2400, aligning with the trend. The GBPUSD pair is recovering steadily. However, technical indicators in today’s GBPUSD forecast suggest a correction towards 1.2870, followed by a potential decline in the GBPUSD rate to the 1.2640 and 1.2400 levels. Read more - GBPUSD 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 continue its ascent after a recent decline A positive USDA report may support the US dollar and drive further growth in the USDJPY rate. Find out more in our analysis dated 12 August 2024 USDJPY trading key points US Department of Agriculture (USDA) report on world agricultural supply and demand estimates A report on US federal budget execution: previously at -66.0 billion, forecasted at -254.3 billion USDJPY forecast for 12 August 2024: 150.00 and 155.25 Fundamental analysis The monthly US Department of Agriculture (USDA) report provides up-to-date forecasts for global and national balances between the supply and use of key cereal crops, soybeans, derivative products, and cotton. Additionally, it includes data on US domestic supply and consumption of sugar and livestock products. Positive key indicators may support the US dollar against the Japanese yen. The monthly federal budget execution report estimates the difference between government revenues and expenditures for a specific month by calculating the difference between inflows and spending. A negative reading indicates a budget deficit, while a positive reading suggests a surplus. Analysis for 12 August 2024 shows that a budget deficit is projected to increase to -254.3 billion US dollars. This could negatively impact the US dollar, causing the USDJPY rate to fall. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 continues to regain ground after decline Despite a reduction in NZD speculative net positions, the NZDUSD pair continues to strengthen. The New Zealand dollar is gaining against the US dollar. Find out more in our analysis for today, 9 August 2024. The Commodity Futures Trading Commission (CFTC) weekly report analyses non-commercial traders’ (speculators’) speculative positions in the US futures markets. The information is presented as the difference between traders’ long and short positions on Chicago’s and New York’s futures platforms. The CFTC report is published every Friday at 3:30 pm EST and covers data up to the previous Tuesday. According to recent data, the number of speculative long positions in the New Zealand dollar has decreased for two consecutive weeks, suggesting that bearish sentiment dominates the market. Although CFTC Gold’s speculative net positions decreased according to the previous report, long positions continue to increase overall. NZDUSD technical analysis The NZDUSD H4 chart shows that the market has formed a consolidation range around 0.5950. The price broke above this range today, 9 August 2024. A growth wave is expected to continue towards 0.6050. This upward movement is considered a correction of the previous downward trend. Once the correction is complete, a new downward phase could begin, aiming for 0.5800. Limited fundamental data, combined with the NZDUSD technical analysis in today’s NZDUSD forecast, suggests that the pair may continue to correct towards 0.6050. After testing this level, a downward movement could start, targeting 0.5800. Read more - NZDUSD 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 moderately, returning to the price area above 2,400 USD XAUUSD price reversed upwards and closed yesterday’s session with a moderate gain, establishing a foothold above 2,400. The upward movement may continue. Find out more in our XAUUSD analysis for today, 9 August 2024. XAUUSD trading key points Market focus: gold prices are rising amid geopolitical tensions in the Middle East Current trend: gold is trading within a broad range; the long-term trend is upward XAUUSD forecast for 9 August 2024: 2,400 and 2,450 Fundamental analysis XAUUSD quotes experienced sustained growth yesterday, returning to the price area above 2,400 USD. The downward correction appears to be over, and gold may test its all-time high of 2,483 in the short term. Fundamentally, the XAUUSD rate is supported by expectations for an imminent US Federal Reserve interest rate cut, which will gradually cause the US dollar to lose ground. Gold is also in demand as a safe-haven asset amid rising geopolitical tensions in the Middle East. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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

RBA’s hawkish comments support AUDUSD The AUDUSD rate is rising on Thursday morning; buyers are testing the resistance area. Find out more in our analysis dated 8 August 2024. The Australian dollar reached a two-week high, rising to 0.6560. Growth was driven by hawkish comments from Reserve Bank of Australia Governor Michele Bullock, who highlighted the central bank’s readiness to raise interest rates further to address inflation. The RBA maintained the interest rate at 4.35%, noting that a tight monetary policy is necessary to bring inflation down to the 2.00-3.00% target range. The regulator’s chief also ruled out the possibility of lowering rates in the next six months, dispelling investor hopes for a relaxation of RBA monetary policy. The AUDUSD rate was also bolstered by expectations that the Federal Reserve might more actively lower interest rates in the coming months amid signs of US economic weakness. AUDUSD technical analysis The H4 chart shows that the AUDUSD pair has completed a corrective wave, reaching 0.6572. The AUDUSD forecast for today, 8 August 2024, indicates a consolidation range forming around 0.6535, potentially extending to 0.6630. After the price reaches this level, another downward wave is expected to start, targeting the local level of 0.6200. The Reserve Bank of Australia’s hawkish comments have propelled the AUDUSD pair to a two-week high, and market expectations of a potential interest rate cut in December could support further growth. Technical indicators suggest a possible correction in the AUDUSD rate to 0.6630 today. Subsequently, the trend is expected to extend down to 0.6200. Read more - AUDUSD 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 continues to correct after a surge A decrease in France’s balance of trade and US initial jobless claims may fuel a continuation of the EURUSD correction. Find out more in our analysis dated 8 August 2024. EURUSD trading key points France’s exports: previously at 50.4 billion EUR France’s imports: previously at 58.2 billion EUR France’s balance of trade: previously at -8.0 billion EUR, forecasted at -7.5 billion EUR US initial jobless claims: previously at 249 thousand EUR, forecasted at 241 thousand EURUSD forecast for 8 August 2024: 1.0860 and 1.0820 Fundamental analysis France’s exports have remained relatively stable at around 50.0 billion over the past several years, compared to the previous reading of 50.4 billion. France’s imports have also remained steady within the 56-60 billion range over the past year, with the previous reading at 58.2 billion. The balance of trade shows the difference between the value of a country’s exports and imports. A trade surplus indicates that the country exports more than imports, while a negative trade balance means the opposite. The forecast suggests that the trade balance could decrease by 0.5 billion. This may have no significant impact on the EURUSD rate at present, but it could potentially help strengthen the euro in the long term. US initial jobless claims represent the number of people who claimed unemployment benefits for the first time during the previous week. This indicator measures the employment market climate, with an increase in initial jobless claims indicating rising unemployment. Analysis for 8 August 2024 shows that initial jobless claims are projected to decrease to 241 thousand, which could positively impact the US dollar. If the actual reading exceeds the forecast, the EURUSD pair could continue its corrective wave. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 declines: the market requires a correction before resuming an uptrend The USDCAD pair is easing off, with the market adjusting positions. Find out more in our analysis dated 7 August 2024. The USDCAD rate has fallen for the fourth consecutive trading day, with key movements around the 1.3773 level. Current movements are part of a corrective phase, though the broader fundamental environment does not favour risk appetite. Investors remain focused on slowing global growth, as reflected in falling oil prices and other commodities. The Canadian real estate market is also showing warning signs. It is gradually weakening, with increasing indications that consumers are depleting their resources. The likelihood of a 50-basis-point interest rate cut in Canada is relatively high, even more so than in the US. However, if the Federal Reserve acts first to reduce borrowing costs, the Bank of Canada is expected to follow suit swiftly. Fundamentally, the CAD has the potential to weaken. However, this may occur later as investors anticipate emerging threats. USDCAD technical analysis Analysis for 7 August 2024 indicates that the USDCAD pair continues its downward momentum towards the initial target of 1.3747. The price is expected to reach this target today, with a correction towards 1.3845. A further decline could develop once the correction is complete, targeting 1.3684 and potentially extending towards 1.3600. The USDCAD pair is undergoing a correction, but this movement appears to be short-term. Technical indicators in today’s USDCAD forecast suggest a further decline towards 1.3747, followed by a potential correction towards 1.3855. Read more - USDCAD 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 stabilises after reaching a seven-month high The EURUSD rate has declined for the second consecutive session, failing to sustain the levels observed at the beginning of 2024. Find out more in our analysis dated 7 August 2024. EURUSD trading key points The EURUSD pair has stabilised after reaching a seven-month high Germany’s trade balance surplus decreased to 20.4 billion EUR The US recorded a trade balance deficit of 73.1 billion USD Markets anticipate a Federal Reserve interest rate cut in September EURUSD forecast for 7 August 2024: 1.0880 and 1.0860 Fundamental analysis The EURUSD rate has stabilised near 1.0910 after rising to 1.1007. Investor concerns about a slowdown in the US economy were the primary drivers of the euro’s strengthening, while weak employment data have heightened expectations for a more substantial interest rate cut from the Federal Reserve in September. Meanwhile, Germany’s trade surplus fell to 20.4 billion EUR in June, missing expectations due to declining exports and rising imports. At the same time, an unexpected 3.9% increase in Germany’s factory orders in July provided a positive signal for the manufacturing sector, which has been facing challenges. In June 2024, the US recorded a trade deficit of 73.1 billion USD, which, while lower than the previous month, exceeded analysts’ forecasts. Exports of goods and services increased by 1.5% to 265.9 billion USD, reaching a four-month high. Imports rose by 0.6% to 339 billion USD, marking the highest reading since June 2022. Today’s EURUSD forecast suggests that markets anticipate a significant 50-basis-point interest rate cut from the Federal Reserve in September, with additional reductions of over 100 basis points throughout the year. However, most analysts consider the recent sell-off in the US dollar an overreaction to weak employment data and do not expect aggressive Federal Reserve action before September. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 leapt and fell: the currency market reached equilibrium The EURUSD pair is poised for a correction. The strain level has subsided. Find out more in our analysis dated 6 August 2024. The EURUSD pair retreated to 1.0951 on Tuesday. The market slightly cooled after the price reached a new multi-week high of 1.1010 yesterday. Investors had previously positioned themselves against the US dollar in response to Friday’s US employment market statistics and their concerns about a potential recession, with a subsequent weak ISM manufacturing report adding to these fears. In this context, investors expected the Federal Reserve to lower interest rates immediately to prevent a recession. Such actions by the Fed could undermine confidence in the regulator and adversely impact inflation expectations. The market is gradually stabilising now. The Federal Reserve did not take any significant action or make notable announcements, which reassured the market. In the short term, reduced speculation about an imminent interest rate cut should support the US dollar, pushing the EURUSD rate down. EURUSD technical analysis The H4 chart shows that the EURUSD pair has completed a downward wave, reaching 1.1000. The initial phase of this downward wave could develop today, 6 August 2024, aiming for 1.0820. The EURUSD rate declined to 1.0955 and corrected this downward impulse, reaching 1.0985. Subsequently, the market returned to 1.0955, forming a narrow consolidation range around this level. A break below this range is expected, targeting 1.0924 and potentially extending the decline towards 1.0903. The EURUSD pair corrected towards a local high. Technical indicators in today’s EURUSD forecast suggest that the downward wave could extend to 1.0903, potentially continuing the trend towards 1.0820 and 1.0800 levels. Read more - EURUSD 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

Positive US macroeconomic data drives USDJPY upwards The USDJPY rate is rising amid increased business activity in the US. Find out more in our analysis dated 6 August 2024. USDJPY trading key points The US services PMI increased to 51.4 points, exceeding previous readings and analysts’ forecasts Federal Reserve Bank of San Francisco President emphasised the importance of preventing a decline in the employment market The strongly oversold USDJPY pair makes the Japanese yen vulnerable to positive US economic data USDJPY forecast for 6 August 2024: 148.20 and 149.20 Fundamental analysis The Japanese yen dipped to 145.75 per US dollar, retreating from seven-month highs. This decline is caused by a statement from Federal Reserve Bank of San Francisco President Mary Daly and a stronger-than-expected services report. The US ISM services PMI rose to 51.4 points in July 2024, up from the previous reading of 48.8 and exceeding analysts’ forecasts. The increase is driven by a rise in new orders, which reached 52.4 points in July, up from 47.3 the previous month. This indicator signals increased demand for services and the general strengthening of business activity. The President of the Federal Reserve Bank of San Francisco, Mary Daly, underscored the critical need to prevent a decline in the employment market. She expressed readiness to lower interest rates if necessary and emphasised the need for a proactive policy. Traders now expect the Federal Reserve to ease monetary policy by 110 basis points this year, with the likelihood of a 50-basis-point interest rate cut in September estimated at 75%. Today’s USDJPY forecast indicates that the strongly oversold pair makes the Japanese yen vulnerable to positive US macroeconomic data, prompting investors to shift their preference towards the US currency. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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: a temporary rally following weak US data The GBPUSD rate is aggressively declining today after rising on Friday on weak US data. Find out more in our analysis dated 5 August 2024. The GBPUSD currency pair rose by over 0.5% on Friday due to a weak US employment report. This report heightened concerns about a potential recession and increased expectations for a more significant Federal Reserve interest rate cut. Friday’s data revealed that the US economy added just 114,000 jobs in July, falling short of the projected 175,000. The unemployment rate unexpectedly rose to 4.3%, reaching the highest level since 2021, while wage growth slowed more than anticipated. According to analysts, if investors focus solely on Friday’s US employment data, this may distort the GBPUSD forecast for today. An average reading over the past three months could provide a more accurate picture. Overall, traders believe that the strengthening of the pound sterling may be temporary. If the released data indicate easing inflation and declining employment in the UK, the Bank of England might ease its monetary policy, which could exert significant pressure on the GBPUSD rate. GBPUSD technical analysis Analysis for 5 August 2024 shows that the GBPUSD pair remains in a downtrend, aiming for 1.2700 as the first target. The price is expected to reach this target level today. Subsequently, it could correct towards 1.2870 (testing from below). Once the correction is complete, a new decline wave might begin, targeting 1.2600. Despite Friday’s strengthening, the pound sterling may weaken due to worsening UK economic indicators and the potential easing of the Bank of England’s monetary policy. Technical indicators suggest that the GBPUSD rate could decline to 1.2700 before correcting towards 1.2870. Read more - GBPUSD 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 reaches a new low for the year: a decline is just beginning The USDJPY pair is rapidly falling, with investors having three reasons for this. Find out more in our analysis dated 5 August 2024. USDJPY trading key points The USDJPY pair has fallen to a low not seen since 3 January The market is concerned about a US recession USDJPY forecast for 5 August 2024: 138.10, 149.80, and 142.00 Fundamental analysis The USDJPY rate is plummeting to 142.96. The market is actively engaging in sales for at least three reasons. The first reason is the active exit of investors from carry trade operations. Market participants began to exit short positions in the yen after the Bank of Japan signalled its readiness to tighten monetary conditions. The second reason is concerns about a US recession. Last Friday, the US released a block of weaker-than-expected employment data. Investors are worried that the Federal Reserve might be late in easing monetary conditions, potentially allowing for an economic contraction. The third reason is the increasing appeal of the JPY as a safe-haven asset amid tensions in the Middle East and their potential global implications. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 is in positive territory: the market favours risk The NZDUSD pair has recovered quite well. The market is once again interested in risk. Find out more in our analysis dated 2 August 2024. The NZDUSD rate has noticeably recovered after its previous decline. The pair is hovering around 0.5953 on Friday. July’s decline in the NZDUSD rate was relatively stable, driven by weak reports from China, a general exit of investors from carry trade positions in the Japanese yen, and an unfavourable sentiment towards risky assets. The New Zealand dollar is now recovering amid stabilised demand for risky assets and improved market sentiment. The Reserve Bank of New Zealand will hold a meeting on 14 August. Investors believe there is a 36% likelihood of an interest rate cut at this meeting. Expectations for the October meeting are relatively high, with another reduction in borrowing costs anticipated. NZDUSD technical analysis On the H4 chart, the NZDUSD pair has completed a decline wave, reaching 0.5858, and has corrected towards 0.5977 (testing from below). The NZDUSD forecast for today, 2 August 2024, indicates that a consolidation range is forming at the top of a corrective wave. A downward breakout will open the potential for a decline towards 0.5888. If the price breaks below this level, the trend could continue to 0.5802, the first target of the downward wave. The NZDUSD pair has partially recouped its previous decline. Today’s NZDUSD technical analysis suggests the trend may continue to the 0.5888 and 0.5802 target levels. Read more - NZDUSD 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 is trading around 80.00 USD; focus on US employment market data today Brent price is consolidating within a limited range near 80.00 as market participants await US nonfarm payrolls and unemployment rate data. Find out more in the Brent analysis for today, 2 August 2024. Brent trading key points US data: the market awaits employment market statistics today Brent forecast for 2 August 2024: 82.80 and 78.00 Fundamental analysis Brent quotes halted their decline as part of a downward correction after reaching a local low of 78.00. This week’s US oil stock data from the American Petroleum Institute (API) and Energy Information Administration (EIA) showed a decrease in oil inventories by 4.49 and 3.43 million barrels, respectively. Today, market participants are awaiting the release of US July employment statistics, which will reveal nonfarm payrolls and the unemployment rate. Oil prices will likely be influenced by the reaction of the US stock market to employment data: a rise in the stock market will help strengthen Brent’s price, while a decline would push prices lower. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 declines further following a correction The AUDUSD pair is falling despite improved trade balance and increased commodity price index. Find out more in our analysis dated 1 August 2024. The balance of trade reflects the difference between the monetary value of exports and imports. An increase in exports indicates economic development, while import volumes indicate domestic demand. Positive trade balance readings, above both the expected and previous values, are considered a positive factor for the national currency. Australia’s trade balance has increased to 5.589 billion, highlighting economic development and potentially positively impacting the AUDUSD rate. The commodity price index shows changes in sales of exported goods. Rising prices increase returns on exports and impact the trade balance. Although the current reading is negative, the index has increased from its previous level, which is generally considered positive for the national currency. The PMI shows the country’s production activity level over the previous period. A reading above 50.0 indicates economic growth, while below 50.0 signals a decline. The index is currently projected to be 0.3 points higher than the previous reading, which may theoretically be considered positive. However, as the index remains below 50.0, it shows negative results. Although today’s AUDUSD forecast based on fundamental analysis appears favourable for the Australian dollar, it does not prevent the currency pair from declining. AUDUSD technical analysis The H4 chart shows that the AUDUSD pair maintains its downward momentum towards the local target of 0.6473. The AUDUSD rate is expected to reach this target today, 1 August 2024. Subsequently, a correction could follow, aiming for 0.6610 (testing from below). Once this correction is complete, another decline wave could develop, targeting 0.6430. Overall, fundamental data aligns with the AUDUSD indicator-based technical analysis, suggesting that the downtrend might continue to the 0.6473 and 0.6430 levels. Read more - AUDUSD 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 after the Fed’s meeting and comments from Chair Jerome Powell The XAUUSD price increased to 2,458 USD following the Federal Reserve’s interest rate decision and accompanying comments. Find out more in our XAUUSD analysis for today, 1 August 2024. XAUUSD trading key points Market focus: The Federal Reserve chair confirmed a potential rate cut in September; the market awaits Friday’s US employment data Current trend: upward price momentum is underway XAUUSD forecast for 1 August 2024: 2,458 and 2,430 Fundamental analysis XAUUSD quotes have reversed upwards, showing steady growth after the US Federal Reserve’s meeting and subsequent speech by its chair, Jerome Powell. As expected, the key interest rate remained at 5.5% at this meeting, with all 12 FOMC members unanimously agreeing on the decision. In his remarks, the Federal Reserve chair noted that the US economy was approaching a point where monetary policy easing might be appropriate and hinted that a rate cut could occur in September. Gold reacted to Powell’s comments by rising to 2,458 USD per troy ounce. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 is correcting: investors await signals from the Federal Reserve and the Canadian economy The USDCAD rate is declining on Wednesday following a protracted rise amid expectations of the Federal Reserve’s decision and falling oil prices. Find out more in our analysis dated 31 July 2024. The USDCAD rate reached 1.3863 on Monday, marking the pair’s eight-month low. Investors attribute this decline to anticipating the Federal Reserve’s decision and falling oil prices amid concerns about sluggish oil demand from China. The USDCAD rate continues to tumble on 31 July 2024, testing the 1.3840 support level. The latest CFTC (U.S. Commodity Futures Trading Commission) data reveals a notable increase in bearish positions on the Canadian currency. Speculators are betting on a further decline in the Canadian dollar to a record level. As of 23 July, net short positions increased to 161.6 thousand contracts from 132.5 thousand a week ago. Investors expect the Federal Reserve to keep interest rates unchanged on Wednesday but anticipate a signal for an imminent cut. Traders will also focus on Canada’s monthly GDP data, which is due for release today. Analysts note that prolonged one-way movements in the currency market rarely exceed ten trading sessions. Therefore, investors are likely to begin closing short positions in the Canadian dollar soon, which could potentially push the USDCAD rate down. USDCAD technical analysis USDCAD technical analysis for 31 July 2024 shows that the pair has completed a growth wave, reaching 1.3864. A consolidation range is currently forming below this level. Today, the rate is expected to decline to 1.3828 before rising to 1.3844 (testing from below). Subsequently, a decline wave might develop, aiming for 1.3793 as the first target of the downtrend. Investors anticipate the Federal Reserve will maintain interest rates and closely monitor Canada’s GDP data. Closing short positions in the Canadian dollar may lead to further declines in the USDCAD rate. Technical indicators for today’s USDCAD forecast suggest a decline wave towards 1.3792. Read more - USDCAD 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 plummets: the market had been anticipating the BoJ’s decision The USDJPY pair is falling rapidly. The Bank of Japan has done its utmost to support the yen. Find out more in our analysis dated 31 July 2024. USDJPY trading key points The Bank of Japan raised the interest rate to 0.25% The USDJPY rate is declining rapidly USDJPY forecast for 31 July 2024: 151.26 and 150.77 Fundamental analysis The Japanese yen maintains its upward trajectory, which began a little earlier. The market had anticipated the outcome of the Bank of Japan’s meeting. The USDJPY rate is declining. Japan’s interest rate increased by 25 basis points to 0.25% per annum, up from 0%. Additionally, the BoJ announced plans to reduce bond purchases in the second half of the year. This was the most anticipated outcome of the meeting. In its comments, the Bank of Japan noted that inflation risks for this year and the next have increased. Consumption in the economy is considered stable despite rising prices, and wage growth is accelerating. This is a significant achievement for the Bank of Japan, as wages have been relatively stagnant for a long time. Japan’s GDP is expected to increase by 0.6% in 2024, with the economy expanding by 1.0% in 2025. Core inflation is projected to be 2.5% in 2024 and 2.1% in 2025. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 is poised for growth; the franc is retreating rapidly The USDCHF pair has been rising, with this trend persisting for the third consecutive day due to the strength of the US dollar. Find out more in our analysis dated 30 July 2024. The USDCHF pair has risen for three consecutive days and is now approaching 0.8866. This movement follows a fairly noticeable decline in the pair in July. The US dollar is clearly rebounding, supported by forecasts that the US Federal Reserve will keep the interest rate unchanged at today’s meeting. The rate is expected to remain within the 5.25-5.50% range. Investors are primarily anticipating signals regarding the next meeting scheduled for September. The USDCHF pair is forced to react to external factors. However, Switzerland’s domestic statistics are not robust enough to capture investor attention. Today, Switzerland will release the report on the KOF leading indicators index for July, which is expected to decrease slightly to 102.6 points from the previous 102.7. USDCHF technical analysis On the H4 chart, the USDCHF pair continues its correction towards 0.8888. Today, 30 July 2024, a rise to 0.8870 is expected, followed by a decline to 0.8833 (testing from above). Subsequently, the USDCHF rate could rise to 0.8888, with the correction potentially extending to 0.8900. Once the correction is complete, a new decline wave could begin, aiming for 0.8761 as the wave’s main target. The USDCHF pair has been rising for the third consecutive day. Technical indicators for today’s USDCHF forecast suggest a further correction towards 0.8888, followed by a decline to 0.8761. Read more - USDCHF 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 may decline further The EURUSD rate corrected on Tuesday following an aggressive decline a day earlier. Why does the market remain cautious? Find out more in the analysis dated 30 July 2024. EURUSD trading key points The market awaits the Federal Reserve meeting on Wednesday for potential interest rate cut signals Today, traders will focus on the June job openings and July Consumer Confidence Index EURUSD forecast for 30 July 2024: 1.0800 and 1.0775 Fundamental analysis The EURUSD pair remains under pressure, trading around 1.0815. The market is awaiting the Federal Reserve meeting on Wednesday, following which the base rate will likely remain unchanged but may provide hints about a rate reduction in September. Traders believe that if no clear signal is given about a rate cut, this may help strengthen the US dollar. Despite higher-than-expected US GDP growth rates in Q2, the likelihood of monetary policy easing remains high. Although inflation has slowed, it continues to be the regulator’s concern. Today, investors will focus on June’s job openings data and July’s Consumer Confidence Index. The long-awaited July employment report will be released on Friday, significantly impacting traders’ expectations about the Federal Reserve’s future policy. Overall, market participants are not inclined to take active action as they await the central bank’s dovish decision. In this situation, the EURUSD rate may decline further. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 continues to rise: risk appetite supports buyers The EURUSD pair is rising. The week begins quietly, with the US Federal Reserve meeting lying ahead. Find out more in our forecast dated 29 July 2024. The EURUSD pair climbs to 1.0859 on Monday. The focus will be on the US Federal Reserve meeting this week. The Fed must maintain all the fundamentals for a September interest rate cut. The core Personal Consumption Expenditures (core PCE) price index rose by 0.1% m/m in June after stabilising in May. The indicator increased by 2.5% year-over-year compared to the May reading of 2.6%. All this aligned with expectations. However, a further decline would bolster confidence that the Fed will reduce the rate quickly. The Federal Reserve uses this inflation measure to make its monetary decisions. EURUSD technical analysis On the EURUSD H4 chart, a consolidation range continues to develop around 1.0850 with no clear trend. A rise to 1.0871 remains relevant today, 29 July 2024. Subsequently, the price could fall to 1.0833 and then rise to 1.0874. A price surge to 1.0886 is also possible. This entire growth structure is viewed as a correction of the previous decline wave. Once it is complete, a new decline wave is expected to start, aiming for 1.0820 and potentially continuing to the local targets of 1.0777 and 1.0760. Although the EURUSD pair maintained its recovery momentum, it is temporary. The EURUSD forecast for today aligns with technical indicators, suggesting a further corrective wave towards (at least) 1.0874. Once completed, the EURUSD rate is expected to decline to the targets of 1.0818, 1.0777, and 1.0760. Read more - EURUSD 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 falls: the market awaits BoJ interest rate hike The USDJPY rate is declining after rebounding from the 154.65 resistance level. Find out more about market expectations ahead of the BoJ and Federal Reserve meetings in our analysis dated 29 July 2024. USDJPY trading key points The BoJ is expected to raise the interest rate by 10 basis points The market awaits Federal Reserve interest rate cut signals for September USDJPY forecast for 29 July 2024: 151.31, 154.50, and 157.10 Fundamental analysis The Japanese yen is strengthening today, bolstered by market expectations of a Bank of Japan interest rate hike. Investors hope the central bank will take action to curb inflation. Markets forecast that the BoJ will raise the interest rate by 10 basis points to 0.1% at the upcoming meeting. According to analysts, if the central bank does not increase rates, it will be forced to resort to a more aggressive quantitative tightening policy to prevent sharp fluctuations in the USDJPY rate following the announcement of the decision. Both the BoJ and the US Federal Reserve meetings are scheduled for Wednesday. The decisions of these central banks will significantly impact the movements of the USDJPY currency pair. While investors expect the Bank of Japan to raise the interest rate, they are also looking for signals from the Federal Reserve about a potential rate cut in September. Traders note that the USDJPY pair was overvalued, and the current dynamics do not favour the US dollar. Any signs of the Federal Reserve easing monetary policy may significantly push down the dollar-yen rate. Market analysis for other instruments can be found in the section "Market analysis" on our website. 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 sell-offs have ended: investors await inflation data The AUDUSD pair halted its decline. The AUD rate experienced its worst week since November. For a detailed analysis, please refer to our forecast dated 26 July 2024. The AUDUSD pair has stabilised after a massive decline, hovering around 0.6552. The fall has been observed for nine consecutive trading sessions. This week will be the worst for the AUD since November last year, with losses of about 2%. The decline of the Australian dollar was driven by a global sell-off of risky assets, the unwinding of carry trades against the yen, and weak economic data from China, Australia’s major trading partner. Next week, Australia will release Q2 2024 inflation data, which will likely provide investors with more insight into future monetary policy actions of the Reserve Bank of Australia. AUDUSD technical analysis On the AUDUSD H4 chart, a consolidation range has formed around 0.6610. The AUDUSD rate, breaking below the range, reached the wave’s local target of 0.6512. A correction is expected today, 26 July 2024, aiming for 0.6610 (testing from below) and followed by another decline wave towards 0.6468. Once the price reaches this level, the AUDUSD pair is expected to see a new growth structure or a consolidation range, potentially continuing to 0.6420. The AUDUSD pair appears weak following a wave of sell-offs. The indicator-based AUDUSD technical analysis suggests a corrective wave towards 0.6610 and a new decline wave towards the 0.6468 and 0.6420 targets. Read more - AUDUSD 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