Forex Technical Analysis & Forecast 26.10.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1664 and then reaching the downside border of the range at 1.1622, EURUSD has broken the latter level; right now, it is still falling towards 1.1565. Possibly, today the pair may reach it and then start a new correction to test 1.1620 from below. Later, the market may resume trading downwards with the target at 1.1565.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the ascending wave at 1.3790 along with the correction at 1.3741, GBPUSD is consolidating between these two levels. Possibly, the pair may break the latter level to the downside and resume falling 1.3689. After that, the instrument may return to test 1.3740 from below and then resume trading downwards with the target at 1.3650.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 70.00. Today, the pair may form a new descending structure towards 69.45 and then start another correction to test 70.00 from below. After that, the instrument may resume falling within the downtrend with the target at 69.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still correcting towards 113.95. Later, the market may resume trading downwards with the first target at 112.90.

USDCHF, “US Dollar vs Swiss Franc”

After forming a new consolidation range around 0.9175, USDCHF has broken it to the upside and may later grow towards 0.9207. After that, the instrument may form a new descending structure with the target at 0.9134.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7482. Today, the pair may grow to reach 0.7511 and then fall to return to 0.7447. Later, the market may break the level to the downside and start a new decline the target at 0.7418.

BRENT

Brent is still consolidating around 86.05. If later the price breaks this range to the upside, the market may resume trading within the uptrend with the target at 88.00; if to the downside – start a new correction towards 84.70 and then form one more ascending structure to reach the above-mentioned target.

XAUUSD, “Gold vs US Dollar”

After completing the ascending structure, Gold is forming a new consolidation range around this level. If later the price breaks this range to the upside, the market may resume trading within the uptrend with the target at 1814.00. After breaking this level as well, the instrument may continue growing towards 1825.35.

S&P 500

The S&P index continues trading upwards; it has already reached 4672.0 and is currently consolidating around this level. Possibly, the asset may resume growing to reach 4607.7. On the other hand, if the price falls and breaks 4565.0, the instrument may start a new correction with the target at 4517.9.

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.