Forex Technical Analysis & Forecast 18.10.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

October 18, 2019

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD continues forming the ascending structure from 1.1074; right now, it is consolidating below 1.1129. Possibly, the pair may break this range to the upside and continue growing towards 1.1144. Later, the market may form a new descending structure to reach 1.1129 and then start another growth towards 1.1158 to complete this ascending wave. After that, the instrument may start a new correction with the target at 1.1000.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”


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After reaching the target at 1.2980, GBPUSD has completed the descending impulse at 1.2755 along with the correction towards 1.2893; right now, it is moving downwards. Possibly, the pair may break 1.2750 and then continue trading downwards with the target at 1.2555.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After completing another consolidation range around 0.9927, USDCHF has broken it to the downside and may continue the descending correction towards 0.9860. After that, the instrument may resume trading upwards with the first target at 0.9930.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues consolidating around 108.69. If later the price breaks this range to the downside, the instrument may form a new descending structure to reach 108.00; if to the upside – resume trading upwards with the target at 109.06.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving upwards; right now, it is forming the fifth wave with the target at 0.6840. After that, the instrument may consolidate and form a reversal pattern. The first downside target is at 0.6755.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached 63.87; right now, it is consolidating near the lows. Possibly, the pair may grow towards 64.17. Later, the market may continue trading inside the downtrend with the target at 63.54.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD continues falling towards 1.3125. Later, the market may consolidate and form a reversal pattern. The pair is expected to form one more ascending structure with the target at 1.3235.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still growing towards 1498.30. After that, the instrument may fall to break 1487.70 and then continue trading inside the downtrend with the predicted target at 1459.33.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

НAfter reaching the short-term target at 60.00, Brent is moving downward to reach 59.20. Later, the market may resume trading upwards with the first target at 60.40.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has returned to 8085.00. Today, the pair may form a new descending structure to reach 7787.00 and then resume growing towards 8280.00.

BITCOIN

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.