Forex Technical Analysis & Forecast 18.10.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has formed a consolidation range around 0.9790 and continues to correct to 0.9873. After this level has been reached, the downside link to the level of 0.9790 is not excluded (test from above). Next, consider the likelihood of another upside structure to 0.9950.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed a consolidation range around the level of 1.1330 and with the exit upwards it suggests to consider the probability of continuation of correction to the level of 1.1513. After working out of this level, we expect a decline to the level of 1.1330. Further growth to the level of 1.1730.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has worked off the upside structure to 149.07. The market is currently forming a consolidation range below this level. On the way up, there will be upside potential to 149.40. On the way down, there is downside potential to 148.40.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF rebounded to 0.9921. A continuation of the correction to 0.9900 is not excluded. Further, the growth to the level 1.0121 is expected. The target is local.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has formed a consolidation range around the 0.6288 level. With an upside exit, the potential for continued correction to the 0.6383 level is open. The target is local.

BRENT

Brent continues to develop a consolidation range around the 93.36 level. Today we expect a growth link to the 95.70 level. After working out of this level, consider the probability of decrease to the level of 93.36. Further growth to the level of 100.20. The target is the first one.

XAUUSD, “Gold vs US Dollar”

Gold is forming an upside pattern towards 1664.90. We expect consolidation range development around this level and with the exit up we will consider continuation of the growth wave to the level of 1683.40. The arget is local.

S&P 500

The S&P index worked its way up to 3739.0. Today we expect consolidation range formation around this level. With an upside entry, upside potential will open up to 3896.3 with the prospect of a continuation of the trend towards 3983.3.

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.