Forex Technical Analysis & Forecast 14.10.2020

October 14, 2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.1750 and then breaking this level to the downside, EURUSD has extended this structure down to 1.1730; right now, it is still consolidating below the latter level. Possibly, the pair may correct to test 1.1760 from below and then start a new decline to reach 1.1698. Later, the market may form one more ascending structure with the target at 1.1750.

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 finishing the descending wave at 1.2982 and breaking this level to the downside, GBPUSD has reached 1.2922; right now, it is consolidating above the latter level. Today, the pair may correct to test 1.2982 from below and then form a new descending structure to reach 1.2900. After that, the instrument may correct to the upside with the target at 1.2980.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues consolidating around 76.90. Possibly, today the pair may grow towards 77.60 and then resume falling with the first target at 76.40. Later, the market may start another correction to reach 78.20.

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

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending structure at 105.55 and then rebounding from this level to the downside, USDJPY is falling with the first target at 105.00. After that, the instrument may correct towards 105.50 and then start another decline to break 105.00. Later, the market may continue moving downwards with the short-term target at 104.40.

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

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending structure at 0.9124 and then breaking it to the upside, USDCHF has reached 0.9155; right now, it is consolidating below the latter level. Possibly, the pair may break the range to the downside and start a new correction to test 09124 from below. Later, the market may resume growing with the first target at 0.9166.

USDCHF
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 still consolidating around 0.7177. Today, the pair may fall to break 0.7147 and then continue trading downwards with the first target at 0.7111.

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

BRENT

After completing the ascending structure at 42.60, Brent is consolidating below this level. Possibly, the asset may form a new descending structure to finish the correction at 41.50. Later, the market may start another growth with the first target at 44.22.

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

XAUUSD, “Gold vs US Dollar”

After finishing the descending wave at 1905.00 and then breaking this level to the downside, Gold has reached 1891.00; right now, it is consolidating around the latter level. Possibly, the pair may break the range to the downside and correct to test 1905.00 from below. Later, the market may resume trading within the downtrend with the target at 1877.35.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 11400.00. Possibly, today the asset may fall to reach 11111.00. Later, the market may correct to test 11400.00 from below and then resume falling with the target at 10900.00.

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

S&P 500

After completing the correction at 3500.2, the S&P index is moving upwards. Possibly, the asset may expand the range up to 3551.1 and then correct towards 3455.3. After that, the instrument may form one more ascending structure with the target at 3590.0.

S&P 500

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.