Forex Technical Analysis & Forecast 10.10.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving upwards. Possibly, the price may continue the correction to reach 1.1800. After completing the correction, the instrument may start another descending wave with the local target at 1.1630.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has formed the consolidation channel below 1.3128. Possibly, today the price may be corrected towards 1.3222 to test it from below. Later, in our opinion, the market may continue falling with the local target at 1.2918.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating around 0.9790. Possibly, the price may fall towards 0.9772 and complete the correction. After that, the instrument may start growing to reach the local target at 0.9850.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still consolidating and trading to rebound from 112.74. Possibly, the price may reach 112.00, break this range to the upside, and then reach 113.60.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed another consolidation range and right now is trading to break it to the upside. We think, the price may be corrected towards 0.7822 and then fall to reach 0.7780.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has broken its consolidation channel to the upside. We think, today the price may continue the correction towards 58.67. Later, in our opinion, the market may fall inside the fifth wave with the target at 56.55.
XAU USD, “Gold vs US Dollar”
Gold is trying to break the consolidation range upwards. Possibly, today the price may grow towards 1292.00 and then fall to reach 1285.60. After that, the instrument may grow towards 1311.00 and complete the correction. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1260.00.
BRENT
Brent is consolidating near the lows. Possibly, the price may fall towards 54.77 and finish the correction. Later, in our opinion, the market may grow to reach 57.15, break it, and then continue moving upwards with the target at 59.50.
RoboForex Analytical Department
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.