Forex Technical Analysis & Forecast 11.01.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

Having completed the descending wave at 1.1285, EURUSD is growing towards 1.1365. Later, the market may start a new decline to reach 1.1330 and then form one more ascending structure with the target at 1.1400.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.3530, GBPUSD is growing towards 1.3610. After that, the instrument may correct to reach 1.3570 and then start another growth with the target at 1.3628.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending wave at 74.88. Possibly, today the pair may grow to reach 76.03 and then resume trading downwards with the short-term target at 74.10.

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending wave at 115.05, USDJPY is expected to correct and reach 115.60. Later, the market may resume falling with the target at 114.92.

USDCHF, “US Dollar vs Swiss Franc”

Having finished the ascending wave at 0.9274, USDCHF is correcting towards 0.9180. After that, the instrument may resume trading upwards to break 0.9270 and then continue growing with the short-term target at 0.9365.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7188. Possibly, the pair may break this range to the downside and resume falling with the short-term target at 0.7080. Later, the market may form one more ascending structure towards 0.7188 and then start another decline to reach 0.6900.

BRENT

Brent has completed the descending structure at 80.60 and may later grow towards 84.24. After that, the instrument may start a new correction to reach 80.00 and then resume trading upwards with the target at 90.00.

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending wave at 1806.00. Possibly, today the metal may extend the correction towards 1813.30 and then resume falling to break 1790.20. Later, the market may continue trading downwards to reach 1780.20 and then form one more ascending structure with the target at 1830.60.

S&P 500

After finishing the correction at 4580.9, the S&P index is expected to grow towards 4698.9 and may later start a new decline to reach 4639.5, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the downside, the market may form a new descending structure towards 4490.0; if to the upside – resume growing with the target at 4846.0.

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.