Forex Technical Analysis & Forecast 07.10.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After breaking 1.1585 to the downside and completing the descending wave at 1.1530, EURUSD has finished the ascending impulse towards 1.1555 along with the correction to reach 1.1540; right now, it is growing to break 1.1555. Later, the market may start another growth to reach 1.1583 and then form a new descending structure to return to 1.1555.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken 1.3611 to the downside. Possibly, today the pair may continue trading downwards to reach 1.3535 and then form one more ascending structure with the target at 1.3660.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 72.48. Today, the pair may break this range to the downside and reach 72.00. After that, the instrument may grow to test 72.50 from below and then resume trading downwards with the target at 71.70.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the ascending structure at 111.78; right now, it is falling to reach 111.18 and may later form a new consolidation range there. After that, the instrument may break the range to the downside and resume falling with the target at 110.80.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the correctional structure at 0.9266, USDCHF is expected to start another growth to beak 0.9310 and then continue trading upwards with the target at 0.9355.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the correctional wave at 0.7235; right now, it is growing to reach 0.7300. Later, the market may start another decline towards 0.7275 and then resume moving upwards with the target at 0.7323.

BRENT

Brent is correcting towards 80.70. After that, the instrument may resume trading upwards to break 84.00 and then continue growing with the target at 90.00.

XAUUSD, “Gold vs US Dollar”

Gold has finished the correctional structure at 1746.00. Today, the metal may form one more ascending structure to break 1769.00 and then continue trading upwards with the target at 1790.18.

S&P 500

The S&P index is consolidating around 4330.0. Possibly, today the asset may expand the range up to 4400.5 and then fall to break 4300.94. Later, the market may continue trading downwards with the target at 4234.4.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.