Forex Technical Analysis & Forecast 05.10.2022

05.10.2022

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 0.9872 and then forming a new consolidation range around this level, EURUSD has broken it to the upside to reach 0.9990 and may later start a new decline to return to 0.9872. After that, the instrument may form one more ascending structure towards 1.0010 and then resume trading downwards with the target at 0.9744.

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 finished the ascending structure at 1.1446. Today, the pair may resume trading downwards with the target at 1.1245, or even extend this wave down to 1.1000.

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

USDJPY, “US Dollar vs Japanese Yen”

Having completed the descending wave at 143.53, USDJPY is expected to resume growing towards 144.66. Later, the market may start another decline with the target at 144.00.

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

USDCHF, “US Dollar vs Swiss Franc”

After reaching 0.9948 and then finishing the correction down to 0.9797, USDCHF is expected to form one more ascending wave with the target at 0.9999.

USDCHF
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 consolidating around 0.6500. If later the price breaks the range to the upside, the market may start a new growth towards 0.6600; if to the downside – resume trading downwards with the target at 0.6400.

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

BRENT

After finishing the ascending wave at 91.50 and forming a new consolidation there, Brent has broken it to the upside. Possibly, today the asset may continue trading upwards to reach 94.83. Later, the market may correct down to 91.50 and then form one more ascending structure with the target at 97.30.

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

XAUUSD, “Gold vs US Dollar”

After completing the ascending wave at 1728.08, Gold is expected to correct with the first target at 1694.21 and may later grow towards 1710.50. After that, the instrument may resume trading downwards to reach 1690.00, or even extend this structure down to 1660.00.

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

S&P 500

Having finished the ascending wave at 3794.0, the S&P index is expected to start a new decline to break 3666.6 and then continue falling with the target at 3500.0.

S&P 500
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.