Forex Technical Analysis & Forecast 11.10.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 0.9681 along with the correction up to 0.9744, EURUSD has broken the low of this wave; right now, it is still falling towards 0.9660 and may later form a new consolidation range around the latter level. After that, the instrument may break the range to the downside and resume falling with the target at 0.9580, or even extend this structure sown to 0.9500.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.1068. Possibly, today the pair may break the range to the downside and resume falling towards 1.0919. After that, the instrument may start a new correction to test to 1.1000 from below and then resume trading downwards with the target at 1.0633.

USDJPY, “US Dollar vs Japanese Yen”

After rebounding from 145.60, USDJPY is growing towards 145.98. Later, the market may start another correction to reach 144.77 and then form one more ascending wave with the target at 146.46.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending wave at 1.0020, USDCHF is expected to form a new consolidation range there. Later, the market may break the range to the upside to reach 1.0073 and then resume trading downwards with the target at 0.9900.

AUDUSD, “Australian Dollar vs US Dollar”

Having broken the consolidation range to the downside, AUDUSD is still falling towards 0.6222. After that, the instrument may correct up to 0.6323 and then start a new decline with the target at 0.6200.

BRENT

Brent is correcting down to 94.80. After that, the instrument may resume trading upwards with the target at 100.80, or even extend this structure up to 103.50.

XAUUSD, “Gold vs US Dollar”

After completing the descending wave at 1661.20, Gold is forming a new consolidation range there. If later the price breaks this range to the upside, the market may correct up to 1679.00; if to the downside – resume falling with the target at 1629.40.

S&P 500

The S&P index is consolidating below 3624.0. Possibly, the asset may resume trading downwards to reach 3500.0. Later, the market may correct up to 362.0 and then continue trading downwards with the target at 3444.0.

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.