Forex Technical Analysis & Forecast 14.10.2022

EURUSD, “Euro vs US Dollar”

Having completed the descending wave at 0.9639 along with the ascending structure towards 0.9777, EURUSD is consolidating around the latter level. If later the price breaks the range to the upside, the market may start a new growth to reach 0.9940 and then resume trading downwards with the target at 0.9677, or even extend this structure down to 0.9600.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the ascending impulse at 1.1379, GBPUSD is consolidating below this level. If later the price breaks the range to the downside, the market may resume falling with the target at 1.1000, or even extend this structure down to 1.0620.

USDJPY, “US Dollar vs Japanese Yen”

Having completed the ascending wave at 147.55, USDJPY is consolidating below this level. If later the price breaks the range to the upside, the market may start another growth towards 148.40; if to the downside – form a new descending structure with the target at 145.55.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the ascending wave at 1.0072. Possibly, today the pair may correct down to 0.9900 and then start a new growth with the target at 1.0202.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the descending wave at 0.6172 along with the correction up to 0.6333, AUDUSD is expected to consolidate below the latter level. If later the price breaks the range to the downside, the market may resume trading downwards with the target at 0.6242, or even extend this structure down to 0.6140.

BRENT

After finishing the correction at 91.45 along with the ascending impulse towards 94.44, Brent is forming a new consolidation range there. Possibly, the asset may break the range to the upside and resume growing towards 97.37, or even extend this structure up to 100.50.

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending wave at 1642.50; right now, it is growing to reach 1683.78. Later, the market may start another decline with the target at 1663.33.

S&P 500

Having finished the descending wave at 3500.0, the S&P index is growing towards 3720.0. Later, the market may fall to reach 3580.0 and then resume trading upwards with the target at 3760.0.