Forex Technical Analysis & Forecast 20.10.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

20.10.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has almost completed the correction and right now forming a new descending impulse. Possibly, the price may reach 1.17954 and then grow towards 1.1816. After that, the instrument may resume falling to reach 1.1726. And that’s just a half of the wave with the local target at 1.1600.

EURUSD

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has broken the consolidation channel downwards and right now is still falling. The local target of the wave is at 1.3050. Later, in our opinion, the market may be corrected towards 1.3131 and then continue falling inside the downtrend with the target at 1.2920.

GBPUSD

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has finished the correction along with the ascending impulse to break 0.9836, and right now is being corrected. We think, today the price may fall towards 0.9800. After that, the instrument may continue growing with the target at 0.9931.

USDCHF

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is moving upwards. Possibly, the price may choose an alternative scenario and grow towards 114.08. According to the main scenario, the market may fall to reach 111.35.

USDJPY

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is still consolidating above 0.7821. If later the instrument breaks this range to the upside, the market may grow and reach 0.7925; if to the downside – resume falling inside the downtrend towards the local target at 0.7750.

AUDUSD

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is trading below 57.54 and may continue the correction to reach 57.86. Later, in our opinion, the market may continue falling inside the downtrend towards the local target at 56.65.

USDRUB

 

XAU USD, “Gold vs US Dollar”

Gold has returned to 1288.80, rebounded from it downwards, and right now is still falling. Possibly, the price may fall to reach 1270.70 and then trade to the upside with the target at 1288.80.

GOLD

 

BRENT

Brent has completed the correction. We think, today the price may grow to break the descending correctional channel. After that, the instrument may break the channel and continue moving upwards with the target at 58.90. Later, in our opinion, the market may fall towards 57.80 and then start another growth to reach 59.50.

BRENT

 

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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