Forex Technical Analysis & Forecast 31.10.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still being corrected towards 1.1668; it has formed another consolidation range. If later the instrument breaks this range to the upside, the market may grow to reach 1.1680; if to the downside – continue falling inside the downtrend with the target at 1.1530.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating. Possibly, today the price may reach 1.3238 and then continue falling towards 1.3000.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is also consolidating. We think, today the price may grow to reach 0.9991. If later the instrument breaks this consolidation range to the upside, the market may reach 1.0100; if to the downside – continue the correction with the target at 0.9886.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the target of the first descending impulse. Possibly, today the price may grow towards 113.73 and form another consolidation range. If later the instrument breaks this range to the downside, the market may reach 112.40; if to the upside – continue growing inside the uptrend with the target at 115.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to rebound from the upside border of the descending channel. Possibly, the price may fall towards 0.7615. An alternative scenario implies that the market may continue the correction to the upside and reach at 0.7760.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving downwards. The first target is at 57.60. After that, the instrument may grow to reach 58.17 and then start another descending wave towards 56.55.
XAU USD, “Gold vs US Dollar”
Gold has completed the correction. We think, today the price may fall towards 1264. Later, in our opinion, the market may break this level and continue falling with the target at 1250.
BRENT
Brent is consolidating at the top of the ascending wave. If later the instrument breaks this consolidation range to the upside, the market may to reach 61.00; if to the downside – start another correction with the target at 59.50.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.