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Forex Technical Analysis 18.10.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Analysis for October 18th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating in the center of the third wave. We think, today the price may reach 1.0950 and then return to the center at 1.1000. Later, in our opinion, the market may complete the second half of this wave; the local target is at 1.0802. If the price breaks the range to the upside (an alternative scenario), it may be corrected towards 1.1075 and later continue falling inside the downtrend to reach the local target.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is moving in the center of the consolidation range. We think, today the price may reach 1.2065. After that, the instrument may start growing towards 1.2630 (at least) and then continue falling inside the downtrend to reach a new low at 1.1475.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair consolidating in the center of the range without any particular direction. We think, today the price is expected to reach 0.9940. Later, in our opinion, the market may be corrected towards 0.9800 and then continue growing inside the uptrend with the target at 1.0300.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still consolidating at the top of the ascending wave. According to the main scenario, the price may break this consolidation range downwards and continue falling inside the downtrend to reach the local target at 98.00. The first target is at 102.00.




AUD USD, “Australian Dollar vs US Dollar”

Being under pressure, the AUD/USD pair is growing; it has broken the consolidation range upwards and may extend this structure up to 0.7733. However, the instrument hasn’t tested 0.7620 from above yet. We think, today the price may return to 0.7620, rebound from it to the upside (an alternative scenario), and grow towards 0.7733. After that, the instrument may continue falling inside the downtrend with the target at 0.7474.




USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is trading around 63.00. Possibly, today the price may grow to reach 64.00. After that, the instrument may continue falling to reach the local target at 61.30.




XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is growing. We think, today the price may break 1265. The local target at 1290, the main one – at 1310.




BRENT

Brent is still moving around 52.20. Possibly, the price may fall towards 50.50 and then grow to reach 54.64. Later, in our opinion, the market may be corrected towards 50.00.



 
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