Forex Technical Analysis & Forecast 11.10.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has reached the target of the correction. Possibly, today the price may start another descending wave with the target at 1.1630. The first target is at 1.1730.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has almost finished the correction. We think, today the price may start forming another descending wave towards 1.2920. The first target is at 1.3125.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is moving upwards to reach 0.9772. Later, in our opinion, the market may form another descending structure towards 0.9700 and complete the correction. After that, the instrument may start growing to reach the target at 0.9850.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed four structures of the descending wave. Possibly, today the price may form the fifth one towards 111.44. Later, in our opinion, the market may move to the upside and reach 112.60.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is being corrected towards 0.7821. After that, the instrument may form another descending structure with the target at 0.7660.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has returned into the consolidation channel. If later the instrument breaks this channel to the downside, the market may continue the fifth wave with the target at 56.55; if to the upside – continue the correction towards 58.67 and then fall inside the downtrend to reach 56.55.
XAU USD, “Gold vs US Dollar”
Gold is consolidating around 1285.00. If later the instrument breaks this range to the upside, the market may grow towards 1311.00; if to the downside – fall to reach 1260.00.
BRENT
Brent is forming another ascending wave. Possibly, the price may reach the first target at 57.33 and then start another correction towards 56.11. Later, in our opinion, the market may continue growing 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.