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Forex Technical Analysis 28.10.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Analysis for October 28th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair hasn’t been able to form the fifth correctional structure and returned to falling after three structures. In fact, it is still moving in the center of another consolidation range. If later the price breaks this range upwards, it may grow to reach 1.0950; if downwards – continue falling inside the downtrend with the target at 1.0800.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is trading to rebound from 1.2273 to the downside. In fact, such decline may also break 1.2070. Overall, this descending movement may be considered as another structure of the downtrend with the target at 1.0750.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is trading to rebound from 0.9911. If the price breaks 0.9950, it may continue growing to reach 1.0000. The uptrend may be considered as the third wave towards the local target at 1.0300.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached the target of the extension. We think, today the price may form another consolidation range with a reversal pattern. Possibly, the instrument may break 105.00 to the downside and start falling to reach 103.00. Later, in our opinion, the market may return to 104.00 and then fall towards 101.00.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has completed the first half of another descending wave and right now is consolidating. Possibly, the price may break this consolidation range downwards and fall to reach the local target at 0.7460.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has completed the ascending impulse and the correction. We think, today the price may form another impulse to reach 63.60. Possibly, the market may continue consolidating towards the downside border of the triangle pattern at 62.21. After that, the instrument may return to the pattern’s upside border.

XAU USD, “Gold vs US Dollar”

Gold is trading around 1268. The structure inside the consolidation may be considered as an upside continuation pattern. Possibly, the price may fall to reach 1262 and then continue moving upwards to reach the local target at 1290. Later, in our opinion, the market may fall to return to 1270.


Brent is still being corrected. We think, today the price may test 52.15 from below. After that, the instrument may fall to reach 50.56 and then grow to return to 52.15 (at least).

RoboForex Analytical Department

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