Forex Technical Analysis & Forecast 04.10.2021

EURUSD, “Euro vs US Dollar”

EURUSD has formed a new consolidation range around 1.1580. Possibly, today the pair may expand the range up to 1.1617 and then start a new decline towards 1.1588. If later the price breaks this range to the upside, the market may start another growth to reach 1.1655; if to the downside – form a new descending structure with the target at 1.1550.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.3500. If later the price breaks this range to the upside, the market may start another growth to reach 1.3586; if to the downside – form a new descending structure with the short-term target at 1.3333.

USDRUB, “US Dollar vs Russian Ruble”

After completing the descending impulse at 72.60, USDRUB is correcting towards 72.80 and may later resume falling to return to 72.60. After that, the instrument may break this level to the downside and continue trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still forming the descending impulse with the target at 110.53. Possibly, today the pair may reach 110.70 and then start another growth towards 110.90. After that, the instrument may resume falling to reach the above-mentioned target then start a new correction towards 111.30.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the ascending structure at 0.9306; right now, it is consolidating around this level. Today, the pair may form one more ascending structure towards 0.9333 and then start a new decline with the target at 0.9300.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the ascending structure at 0.7279, AUDUSD is trading downwards to reach 0.7232. Later, the market may start another growth to reach 0.7300 and then resume moving within the downtrend with the target at 0.7230.

BRENT

After finishing the ascending structure at 79.70, Brent is expected to consolidate around this level. If later the price breaks this range to the upside, the market may grow to reach 81.21 and then correct to test 79.79 from above. After that, the instrument may resume trading upwards with the target at 82.42.

XAUUSD, “Gold vs US Dollar”

Gold is growing towards 1767.82 and may later correct to reach 1744.25. After that, the instrument may form one more ascending structure with the target at 1790.18.

S&P 500

The S&P index has completing the ascending structure at 4333.3; right now, it is consolidating around this level. Possibly, today the asset may expand the range up to 4400.0 and then resume trading downwards with the short-term target at 4234.4.