Forex Technical Analysis & Forecast 08.11.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is forming the first descending impulse. Today, the pair may grow to reach 1.1455 and then form one more descending structure towards 1.1410. After that, the instrument may be corrected to return to 1.1455 and then resume trading inside the downtrend with the first target at 1.1320.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is also forming the first descending impulse. Possibly, today the pair may reach 1.3046 and then grow towards 1.3110. Later, the market may resume falling with the first target at 1.2915.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is growing towards 1.0038. Today, the pair may reach this level and then start a new correction with the target at 0.9992. After that, the instrument may form one more ascending structure towards 1.0089. 

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading upwards to reach 112.95. The target of this structure is at 113.82. Later, the market may form a new descending structure to reach the first target at 112.58.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the descending impulse along with the correction. Today, the pair may fall to break 0.7264. The target is at 0.7211. Later, the market may be corrected towards 0.7257.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading above 65.60. Possibly, today the price may form one more ascending structure towards 66.40 and then resume falling with the target at 65.60. After that, the instrument may start another growth to reach 66.00.

XAUUSD, “Gold vs US Dollar”

Gold is trading downwards. Possibly, the price may reach 1221.57 and then resume growing towards 1229.07, thus forming the Triangle pattern. If later the price breaks the pattern to the downside, the instrument may continue falling towards 1206.05; if to the upside – resume trading inside the uptrend with the target at 1252.30.

BRENT

Brent is still consolidating near the lows. Possibly, today the price may grow to break 73.64 and then continue trading upwards with the first target at 75.88. The market is expected to start a new correctional wave.