Forex Technical Analysis & Forecast 18.10.2021
EURUSD, “Euro vs US Dollar”
After breaking 1.1585 to the downside, EURUSD is expected to consolidate around this level. Later, the market may break the range to the downside and form a new descending structure with the short-term target at 1.1555. After that, the instrument may start another growth to test 1.1585 from below and then resume falling to reach 1.1545.
GBPUSD, “Great Britain Pound vs US Dollar”
After breaking 1.3734 to the downside, GBPUSD is falling to reach 1.3704 and may later start another growth to test 1.3734 from below. After that, the instrument may resume trading downwards with the first target at 1.3691.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has finished another descending wave at 70.90. Today, the pair may grow to reach 71.06 and then resume falling within the downtrend with the target at 70.50.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed the ascending wave at 114.44. Today, the par may form a new consolidation range below this level. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 115.30; if to the downside – start a new correction towards 113.36.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF continues growing towards 0.9272 and may later start a new correction to reach 0.9232. After that, the instrument may form one more ascending structure with the target at 0.9303.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the descending impulse at 0.7404 along with the correction towards 0.7434; right now, it is falling to return to 0.7404 and break it. After that, the instrument may continue falling with the target at 0.7366.
BRENT
After breaking 85.66 to the upside, Brent is consolidating around this level. Possibly, the asset may resume trading upwards to reach 87.37. Later, the market may start another correction towards 85.00 and then form one more ascending structure with the target at 90.00.
XAUUSD, “Gold vs US Dollar”
Gold has finished another descending structure at 1769.56; right now, it is consolidating around this level. Possibly, the metal may break this range to the upside and resume trading upwards with the target at 1784.75. After that, the instrument may start a new decline towards 1750.35.
S&P 500
The S&P index is still consolidating above 4452.4. Today, the asset may resume falling to reach 4429.7 and then form one more ascending structure to test 4452.5 from below. After that, the instrument may continue trading downwards with the target at 4390.0.
