Forex Technical Analysis & Forecast 06.11.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

06.11.2018

EURUSD, “Euro vs US Dollar”

EURUSD has completed the descending impulse along with the correction; it has almost formed another consolidation range. Today, the pair may fall to break 1.1348. The short-term target is at 1.1269. However, the market may try to break the range upwards to reach 1.1476 and then resume trading inside the downtrend with the target at 1.1150 (an alternative scenario).

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating at the top of the ascending wave. Possibly, the pair may break 1.3019 and expand the range towards 1.3080. Later, the market may resume trading inside the downtrend and form the fifth wave with the target at 1.2654.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has rebounded from 1.0036 upwards. Possibly, the price may continue trading inside the uptrend to reach 1.0121. After that, the instrument may start a new correction towards 1.0044. 

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the consolidation range around 113.21 and right now is trading to break it upwards. Possibly, the price may form one more ascending structure towards 113.68 and then resume falling to return to 113.21. After that, the instrument may start another growth with the target at 113.86 (an alternative scenario). According to the main scenario, the pair is expected to continue trading inside the downtrend with the target at 111.00.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is being corrected upwards. Possibly, today the price may reach the correctional target at 0.7220 and then start another decline to break 0.7181. The short-term target is at 0.7138.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating above 65.60. Today, the pair may test this level from above and then start another growth to reach 65.90. Later, the market may resume falling with the short-term target at 64.70.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed the correction and right now is trading to rebound from 1233.06. Possibly, today the price may fall to break 1226.86. The short-term target is at 1223.20.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is consolidating near the lows and forming the Divergent Triangle pattern. Today, the pair may fall to reach 71.95 and then trade upwards with the target at 74.67. After that, the instrument may move downwards to complete the first descending wave at 71.40 and then start a new correction with the target at 80.37.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

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