Forex Technical Analysis & Forecast 26.10.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

26.10.2018

EURUSD, “Euro vs US Dollar”

EURUSD has reached 1.1362. Possibly, today the price may start a new correction towards 1.1425 and then resume trading inside the downtrend with the target at 1.1307. considering that the price is forming the third descending wave, possible correction may be rather short. As a rule, these waves continue the downtrend. The short-term target of this wave is at 1.1234.

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 completed another descending wave. Possibly, today the price may be corrected towards 1.2920. After that, the instrument may resume trading inside the downtrend with the short-term target at 1.2615.

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 moving upwards; it has reached 1.0000 and then tested 0.9990 from above. Today, the pair may continue trading inside the uptrend towards the target at 1.0053. However, the instrument may choose an alternative scenario and start a new correction to reach 0.9965 and then resume trading inside the uptrend towards 1.0155.

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 is still trading inside the Triangle pattern. If the instrument breaks this pattern to the downside, the price may resume trading inside the downtrend towards 111.57; if to the upside – continue the correction with the target at 113.10 and then resume falling to reach 110.72.

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 has broken the consolidation range downwards and extended the descending wave up to 0.7027. Today, the pair may test 0.7070 from below and then resume trading inside the downtrend with the target at 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 around 65.55 and forming the Divergent Triangle pattern. Possibly, today the price may grow to reach 66.13 and then fall towards 64.55. According to the main scenario, the instrument is expected to continue forming the third wave with the target at 64.20.

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 still consolidating around 1231.70. Possibly, the pair may fall to reach 1224.30 and then continue trading inside the uptrend with the target at 1241.25.

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

 

BRENT

Brent is forming another consolidation range around 76.50. Possibly, the price may form a new descending structure towards 74.98 and then start another growth to reach 80.30. Later, the market may resume falling with the first target at 76.30.

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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