Forex Technical Analysis & Forecast 22.10.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

22.10.2018

EURUSD, “Euro vs US Dollar”

EURUSD has completed the descending wave along with the correction. Today, the pair may expand the current range towards 1.1540 and 1.1447, and then return to 1.1505. If later the instrument breaks this range to the downside, the price may resume trading inside the downtrend to reach 1.1350; if to the upside – choose and alternative scenario and continue the correction towards 1.1616.

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 has reached the short-term downside target and right now is being corrected. Possibly, today the price may form the fifth correctional structure towards 1.3112. Later, the market may start another decline to reach the first target at 1.2991.

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 is still moving upwards. Today, the pair may reach 0.9992. After that, the instrument may be corrected to return to 0.9950 and then resume trading inside the uptrend to reach 1.0040.

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 formed another consolidation range around 112.49. If the instrument breaks this range to the upside, the price may continue the correction with the short-term target at 113.00. Later, the market may fall towards 112.25 and then resume trading upwards to return to 113.10.

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 forming the Flag correctional pattern. Today, the pair may fall to reach 0.7080. Later, the market may grow towards the target of the pattern at 0.7160 and then resume trading inside the downtrend to reach 0.7000.

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 below 65.55. Possibly, the pair may fall towards 65.18 and then test 65.55 from below. If the instrument breaks this range to the downside, the price may resume falling with the short-term target at 64.10; if to the upside – start a new correction towards 67.04.

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

 

XAUUSD, “Gold vs US Dollar”

Gold is consolidating. According to the main scenario, the price may break this range to the downside and continue forming the fourth structure to reach 1200.50. However, if this range is broken to the upside, the instrument may choose and alternative scenario and grow with the target at 1250.50.

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

 

BRENT

Brent has reached the short-term downside target; right now, it is growing towards 81.52. After that, the instrument may start another decline with the first target at 77.37.

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.

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