Forex Technical Analysis & Forecast 17.10.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

17.10.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has formed another consolidation range at 1.1798 and right now is trading to break its lows. Possibly, the price may continue the descending wave towards 1.1724. After that, the instrument may be corrected to return to 1.1798.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is trading to break the consolidation channel downwards. We think, today the price may reach 1.3170 and then start another correction towards 1.3250. Later, in our opinion, the market may resume falling inside the downtrend with the target at 1.2960.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has formed another consolidation range around 0.9750. Possibly, today the price may grow to reach 0.9790 and then start another correction towards 0.9750. 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. We think, today the price may reach 111.59 and then test 111.94 from below. Later, in our opinion, the market may continue falling with the target at 111.37.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has broken the ascending channel. Possibly, today the price may reach 0.7821 and then grow towards 0.7866, thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may grow and reach 0.7920; if to the downside – resume falling inside the downtrend 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. Possibly, today the price may be corrected to the upside and reach 57.55. After that, the instrument may fall towards the local target at 56.65.

 

XAU USD, “Gold vs US Dollar”

Gold is forming another descending structure towards 1287. Later, in our opinion, the market may grow to reach 1299, thus forming another consolidation channel. If later the instrument breaks this channel to the upside, the market may reach 1311; if to the downside – resume falling inside the downtrend with the target at 1260.

 

BRENT

Brent has formed the consolidation range at 57.36. We think, today the price may grow to reach the local target at 58.90 and then start another correction towards 57.40. After that, the instrument may resume growing with the target at 59.50.

 

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.

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