Forex Technical Analysis & Forecast 16.10.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

16.10.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has formed another consolidation range and right now is trading to break 1.1800 downwards. Possibly, the price may form the third structure towards 1.1730. After that, the instrument may be corrected to return to 1.1800 and then resume falling with the target at 1.1715.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is consolidating at the top of the ascending wave. We think, today the price may break 1.3220 downwards. The downside target is at 1.3175. Later, in our opinion, the market may be corrected to return to 1.3220.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is forming another ascending structure. Possibly, today the price may reach 0.9785 and then start another correction towards 0.9747. After that, the instrument may continue growing with the target at 0.9870.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming the fifth descending structure towards 111.38. Later, in our opinion, the market may be corrected towards 112.40 and form a wide consolidation channel. After breaking the channel to the downside, the instrument may continue falling with the target at 109.10.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is moving downwards. Possibly, the price may be corrected towards 0.7822 and then start growing to reach 0.7920 to complete the fourth wave. After that, the instrument may start the fifth wave towards 0.7680.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is forming the fifth descending wave with the target at 56.55. We think, today the price may form the third structure of this wave. The local target is at 56.65.

 

XAU USD, “Gold vs US Dollar”

Gold is moving upwards. Possibly, today the price may reach the correctional target at 1311 and then start another consolidation channel and a reversal pattern. The market is expected to resume falling inside the downtrend to reach 1230.

 

BRENT

Brent has broken 57.30 upwards. We think, the price may grow to reach 58.20 and then start another correction to return to 57.30. Later, in our opinion, the market may resume growing with the target at 58.80.

RoboForex Analytical Department

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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question