Forex Technical Analysis & Forecast 05.11.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
Earlier, EURUSD failed to break 1.1175 and fix above it on the first try. As a result, after forming another consolidation range and breaking it to the downside, the price has reached 1.1122; right now, it is consolidating around this level. If later the pair breaks this range to the upside at 1.1130, the instrument may form one more ascending wave towards 1.1150; if to the downside at 1.1111 – resume falling with the target at 1.1077.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken 1.2917 downwards. Possibly, today the pair may form a new descending structure towards 1.2866 and then resume trading upwards to return to 1.2917. Later, the market may start another decline to break 1.2866 and then continue the correction with the target at 1.2748.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating around 0.9875; it has already reached 0.9893. After that, the instrument may fall towards 0.9866 and then form one more ascending structure to reach 0.9899, thus forming Divergent Triangle pattern within the correction. Later, the market may start a new decline with the target at 0.9817.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has reached the correctional target. Possibly, the pair may yet extend this correction towards 108.85. Later, the market may continue trading downwards with the target at 107.88.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating around 0.6900. Possibly, the pair may reach 0.6873 and then resume trading inside the uptrend with the target at 0.6972.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is expected to form one more ascending structure towards 63.68. Later, the market may resume falling with the target at 63.00 and then start a new correction to reach 63.63.
USDCAD, “US Dollar vs Canadian Dollar”
After rebounding from 1.3160, USDCAD is falling towards 1.3130. Later, the market may break this level and then continue trading downwards with the target at 1.3104.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating above 1506.15. Today, the pair may fall towards 1496.60. After that, the instrument may start another growth to return to 1506.15 to test it from below and then form a new descending structure with the target at 1480.00. Later, the market may resume moving upwards to reach 1496.60.
BRENT
After breaking 62.17 upwards and then reaching 63.10, Brent has completed the descending impulse at 62.27; right now, it is correcting towards 62.72, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may start another correction to reach 61.45; if to the upside – resume trading inside the uptrend with the target at 64.00.
BTCUSD, “Bitcoin vs US Dollar”
After forming the consolidation range around 9260.00 and breaking it upwards, BTCUSD is correcting towards 9600.00. Possibly, today the pair may form a new descending structure to reach 9260.00 at least. Later, the market may start another growth towards 9600.00 and then resume moving downwards with the target at 9170.00.
