Forex Technical Analysis & Forecast 24.11.2021
EURUSD, “Euro vs US Dollar”
After completing the correctional structure at 1.1274, EURUSD is expected to fall towards 1.1197. Later, the market may start another correction with the target at 1.1274.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the descending wave at 1.3353, GBPUSD is correcting towards 1.3396. Later, the market may resume trading downwards with the target at 1.3328.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 74.78. Possibly, the pair may form a new descending structure to break 73.90 and then continue falling with the target at 72.72.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 114.80. Today, the pair may break this range to the upside and reach 116.06. After that, the instrument may start a new correction to return to 114.80.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is growing towards 0.9350. Later, the market may start another correction with the target at 0.9300.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7222. Possibly, today the pair may break the range to the downside and resume falling towards 0.7170. After that, the instrument may start a new correction with the target at 0.7268.
BRENT
Brent has finished the ascending structure at 82.00; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 77.40; if to the upside – form one more ascending structure with the target at 83.20.
XAUUSD, “Gold vs US Dollar”
Gold is growing towards 1802.92 and may later form a new descending structure to reach 1792.10, thus forming a new consolidation range around the latter level. Possibly, the metal may break the range to the upside and grow to reach 1833.44.
S&P 500
The S&P index has expanded the consolidation range down to 4654.0. Possibly, today the asset may expand it up to 4699.0 and then resume trading downwards with the target at 4633.6.
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.