Forex Technical Analysis & Forecast 12.10.2021
EURUSD, “Euro vs US Dollar”
After expanding its consolidation range down to 1.1546, EURUSD is growing to reach 1.1565. After that, the instrument may fall to break 1.1540 and then continue trading within the downtrend with the target at 1.1515.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed another descending structure at 1.3580; right now, it is correcting to reach 1.3606. Later, the market may resume trading downwards towards 1.3565 or even reach the target at 1.3540.
USDRUB, “US Dollar vs Russian Ruble”
After expanding its consolidation range down to 71.55, USDRUB is expected to start a new correction towards 71.71. Later, the market may resume trading downwards with the target at 71.45.
USDJPY, “US Dollar vs Japanese Yen”
After finishing another ascending structure at 113.33, USDJPY is forming a new consolidation range around this level. Possibly, the pair may expand the range up to 113.55. After that, the instrument may start a new correction with the target at 112.82.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is growing towards 0.9280 and may later form a new descending structure to reach 0.9265. After that, the instrument may resume trading upwards with the target at 0.9310.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the descending impulse at 0.7331; right now, it is growing to reach 0.7355. Later, the market may resume moving downwards with the short-term target at 0.7300.
BRENT
Brent has finished the ascending structure at 84.84 along with the correction towards 83.33. Today, the asset may form one more ascending structure to reach 85.00 and then start another correction with the target at 82.22.
XAUUSD, “Gold vs US Dollar”
Gold has formed a new consolidation range around 1755.55; right now, it is growing towards 1766.70. Later, the market may resume trading downwards with the target at 1735.21.
S&P 500
The S&P index has broken 4354.5 to the downside. Possibly, the asset may continue falling towards 4305.5 or even reach the target at 4154.4.
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.