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Forex Technical Analysis 21.10.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Analysis for October 21st, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still forming the third descending wave. We think, today the price may reach 1.0820. After that, the instrument may test 1.1000 from below and then continue falling to reach 1.0650.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is consolidating without any particular direction; the market has returned to 1.2222 once again. We think, today the price may grow to reach 1.2350. If later the market breaks this level, it may continue moving upwards with the target at 1.2600.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has broken its daily consolidation range upwards. We think, today the price may test 0.9940 from above and then continue moving slowly to reach 0.9990. Later, in our opinion, the market may test 0.944 from above once again and then continue growing inside the uptrend with the target at 1.0300.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has broken the correctional channel to the downside. We think, today the price may reach 103.00 and then return to 103.60. Later, in our opinion, the market may continue falling inside the downtrend to reach 102.00.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has broken the ascending channel. We think, today the price may form another consolidation range around 0.7645. After that, the instrument may continue falling to reach 0.7555.




USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is expected to break the descending channel and reach 63.00. After that, the instrument may fall towards 62.50. If later the market breaks this range upwards, it may grow with the target at 63.60; if downwards – continue falling inside the downtrend to reach 61.30.




XAU USD, “Gold vs US Dollar”

Gold has returned to 1262 and in the future is expected to grow towards 1276. Later, in our opinion, the market may from another consolidation range. After breaking it upwards, the instrument is expected to grow and reach the local target at 1290.




BRENT

Being under pressure, Brent is falling. Possibly, the price may form the third descending wave as a correction with the target at 51.08. After that, the instrument may grow to reach 53.00.



 
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