Daily Market Analysis

The move above 1,496 and the psychological level of 1,500 will trigger a bullish scenario for XAU/USD.

The technical setup for GBP/USD allows expecting a rebound but it has to rise above the resistance first.

On Monday, AUD/CHF broke above the line connecting April and July highs at 0.6785 and managed to close the day above it.

Last week USD/CAD was rejected on the upside: the pair failed to settle above 1.3350.

The USD is going to be volatile on Friday, September 6, as America will release Nonfarm Payrolls data at 15:30 MT time.

Last week, EUR/NZD got rejected from the resistance at 1.7590 thus failing to reach new highs.

An attempt of EUR/GBP to break higher earlier this week has been rejected: the advance stopped at 0.9150.

Brent oil has been trading sideways in the 62.00/58.00 area since the beginning of August.

USD/TRY has formed a big “shooting star” candlestick on the W1 last week. A similar formation is visible on the D1.

The current risk aversion is encouraging the safe-haven demand for the JPY, while the weakness of the euro area’s economy is hurting the EUR.

GBP/CAD tried to recover in August, but its progress wasn’t very impressive. A “Dark Cloud Cover” pattern was formed on the W1.

Pay attention to the currency pair USD/ZAR. It has been consolidating between 15.10 and 15.50 since the start of August.