Forex Technical Analysis & Forecast 17.10.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD worked off a downward wave to 0.9707 and performed a rising link to 0.9767. Today the market is forming a downward structure to the level 0.9670. Its breakdown will open the potential for the development of the wave to 0.9544.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD performed a downward momentum towards 1.1151. Today the market is forming a correction to 1.1265. After its completion we will consider the continuation of the trend to the level 1.1033 with the prospect of stretching this wave to 1.0930.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has worked its way up to 148.83. At the moment, the market is forming a consolidation range below it. An exit upwards will open up the potential for growth to 149.40. On the way down, a drop to 147.70 is possible.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues to form a consolidation range above 0.9993. With the exit from it upwards, we expect the continuation of the growth wave to 1.0202. The target is local.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD pair continues a downward trend towards 0.6166. After this level is reached, consider the possibility of a correction to 0.6255. Further, a decline to the level of 0.6140.

BRENT

BRENT has worked off a correction wave to 91.66. Today, we see the development of an upside structure towards 95.55. A break up will open up the potential for a continuation of the trend towards 99.00.

XAUUSD, “Gold vs US Dollar”

GOLD has worked off the downside wave to 1640.15. Today the market is forming a growth impulse to 1660.80. After this level is worked out, we expect a decline to 1650.55.

S&P 500

The stock index continues to form a consolidation range around the 3606.0 level. A continuation of the downside wave to 3499.0 is seen today. And with a breakdown of this level downwards, the potential for reaching 3410.0 will open up.

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.