Forex Technical Analysis & Forecast 17.10.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
EURUSD has broken 1.1053 to the upside and may continue this ascending wave. Possibly, today the pair may fall to test this level from above and then grow towards 1.1117. Later, the market may continue moving inside the downtrend with the target at 1.1040.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken 1.2772 upwards and may continue this wave to reach 1.2888 or even 1.2900. After that, the instrument may form a new descending structure with the first target at 1.2666.
USDCHF, “US Dollar vs Swiss Franc”
After breaking the consolidation range to the downside, USDCHF has extended the structure to reach 0.9930. Today, the pair may return to 0.9945 and then start a new decline to reach 0.9920. After that, the instrument may resume trading upwards with the target at 0.9966.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has reached the predicted upside target at 108.87; right now, it is consolidating close to these highs. However, the structure of this movement doesn’t imply further decline. Possibly, today the pair may update the highs and grow towards 109.00. Later, the market may resume trading downwards with the target at 107.94.
AUDUSD, “Australian Dollar vs US Dollar”
After returning to 0.6757 and forming another consolidation range around it, AUDUSD has broken this range to the upside; the target is at 0.6786. After that, the instrument may start a new decline to reach 0.6760 and then form one more ascending structure with the target at 0.6820.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has broken 64.20 downwards. Possibly, the pair may fall to reach 63.88 and then start another growth to return to 64.20. Later, the market may continue trading inside the downtrend with the predicted target at 63.33.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD continues falling; right now, it is consolidating around 1.3203. Possibly, the pair may fall towards 1.3166 and then start another growth with the first target at 1.3257.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating around 1488.15 without any particular direction. Today, the pair may fall expand the range towards 1488.30 and then fall to break 1478.64. Later, the market may continue trading inside the downtrend with the target at 1459.30.
BRENT
After reaching 59.70, Brent has finished the correction at 59.20. Possibly, the pair may form one more ascending stricture towards 59.97 and then start a new decline to return to 59.20. After that, the instrument may resume trading upwards with the first target at 61.25.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD has broken its consolidation range downwards. Today, the pair may form a new descending structure to reach 7870.00 and then resume growing towards 8080.00. Later, the market may continue trading inside the downtrend with the target at 7770.00.
