empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

03.09.202110:23 Forex Analysis & Reviews: Analysis of indicators in GDP/USD. Daily review dated September 4, 2021.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Trend analysis (Fig. 1)

GBP / USD will most likely move from 1.3828 (closing of yesterday's daily candle) to the 14.6% Fibonacci retracement (yellow dashed line) - 1.3808, which will be followed with a rebound towards the 75.4% retracement level (blue dashed line) - 1.3891 ... Another decline is possible around this level.

Exchange Rates 03.09.2021 analysis

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger bands - up;

- Weekly chart - up.

General conclusion: GBP / USD will most likely drop from 1.3828 (closing of yesterday's daily candle) to the 14.6% Fibonacci retracement (yellow dashed line) - 1.3808. Then, it will be followed by a rebound towards the 75.4% retracement level (blue dashed line) - 1.3891, where another decline is possible.

Unlikely scenario: There is little chance that the pair will decline deeper immediately after a drop from 1.3828 (closing of yesterday's daily candle) to the 14.6% retracement level (yellow dashed line) - 1.3808. As such, it is implausible that the price will hit the 23.6% retracement level (yellow dashed line) - 1.3786, and then rise to the upper fractal (yellow dashed line) - 1.3844.

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off