Forex Technical Analysis & Forecast 11.10.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the ascending structure at 1.1580 along with the correction towards 1.1564, EURUSD is growing to reach 1.1588. After that, the instrument may fall to return to 1.1564 and then start another growth with the target at 1.1600.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken 1.3591 to the upside. Possibly, the pair may continue trading upwards to reach 1.3666 and then form a new descending structure to break 1.3591. Later, the market may continue trading downwards with the target at 1.3515.

USDRUB, “US Dollar vs Russian Ruble”

After forming a new consolidation range above 71.77 and breaking to the downside, USDRUB is expected to continue falling towards 71.44. Later, the market may correct to reach 72.00 and then resume trading downwards with the target at 71.15.

USDJPY, “US Dollar vs Japanese Yen”

After forming a new consolidation range above 112.18 and breaking to the upside, USDJPY is trading upwards to reach 112.85. After that, the instrument may start a new decline with the target at 112.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9282. Possibly, the pair may resume trading upwards with the target at 0.9304 and then form a new descending structure to return to 0.9282.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues forming the ascending structure towards 0.7343 and may later correct to reach 0.7315. After that, the instrument may start another growth towards 0.7347 and then resume moving downwards with the target at 0.7286.

BRENT

Brent is forming one more ascending structure towards 84.00. Later, the market may resume trading downwards to reach 83.60 and then start another growth with the short-term target at 85.00.

XAUUSD, “Gold vs US Dollar”

After finishing the ascending structure at 1781.12 along with the correction towards 1755.55, Gold is consolidating around the latter level. If later the price breaks this range to the downside, the market may resume falling towards 1746.00 or even reach 1735.00. if to the upside – start another growth to break 1766.76 and then continue trading upwards with the target at 1790.00.

S&P 500

The S&P index is falling towards 4354.5. After that the instrument may form one more ascending structure to reach 4391.5 and then resume trading downwards with the target at 4300.0.

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.