Technical Analysis (6 SEP)

Euro – US Dollar

EUR/USD is trading above 1.0800 in the European session on Monday. The pair is benefiting from a broadly subdued US Dollar, as investors weigh the Fed-ECB policy divergence amid a US holiday and ahead of EU Sentix data and ECB President Lagarde’s speech.
If trading above 1.08090 is traded, the growth will likely continue to 1.08459.
On the other hand, if it trades below the range of 1.08090, the decline is likely to continue to 1.06996.

US Dollar – Japanese Yen

USD/JPY stays defensive around 146.10-15 heading into Monday’s European session after witnessing a sluggish start to the key week comprising Japan growth numbers and the US ISM Services PMI. The Yen pair’s latest inaction could be linked to the US Labor Day holiday, as well as mixed clues about the US Federal Reserve (Fed) and the Bank of Japan (BoJ).
If the pair continues to trade above the range of 145.625 It is likely to continue climbing to 146.812.
On the other hand, if the pair is traded below 145.625, it is expected to continue falling to 143.192.

British Pound – US Dollar

GBP/USD is edging higher toward 1.2650 amid a subdued USD demand in the European trading hours. The uncertainty over the Fed’s rate-hike path is seen as a key factor undermining the USD. The lack of any meaningful buying warrants some caution for aggressive bullish traders
If the pair is trading above 1.26252it is expected to climb to the range of 1.27611.
On the other hand, if the pair trades below 1.26252 it is expected to fall to the range 1.24893.

US Dollar – Swiss Franc

USD/CHF bulls take a breather ahead of the key Swiss Q2 GDP heading into Monday’s European session. In doing so, the Swiss Franc (CHF) pair prints the first daily loss in three despite staying within a one-month-old bullish trend channel.
If the pair is trading above 0.88384 it is expected to climb to the range of 0.88213.
On the other hand, if the pair trades below 0.88384 it is expected to fall to the
range 0.87697.

Gold – US Dollar

Gold Price remains on the front foot as bulls prod the early August swing high while keeping the reins past the $1,936-38 support confluence. The precious metal cheers the US Dollar’s retreat amid fears about the Federal Reserve’s policy pivot, especially after witnessing mostly downbeat figures in the last few days.
If the pair is trading above 1942.47 It is expected to climb to the 1950.52 range.
on the other hand, if the pair trades below 1942.47 It is expected to fall to the range of 1932.04