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Forex Technical Analysis & Forecast 28.10.2020

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.1838 along with another descending wave towards 1.1768, EURUSD is expected to consolidate above the latter level. Possibly, the pair may correct to test 1.1820 from below and then resume trading downwards with the short-term target at 1.1682.

Forex Technical Analysis & Forecast 28.10.2020 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”

GBPUSD is still consolidating around 1.3040. Possibly, today the pair may fall to reach 1.3003 and then grow towards 1.3080. After that, the instrument may break the range to the downside to resume falling and break 1.2939. Later, the market may continue trading within the downtrend with the short-term target at 1.2777.

Forex Technical Analysis & Forecast 28.10.2020 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

After forming the consolidation range above 76.00 and breaking it to the upside, USDRUB is expected to grow towards 77.44 and may later resume moving inside the downtrend to reach 76.70, thus forming a new consolidation range between the two latter levels.

Forex Technical Analysis & Forecast 28.10.2020 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 finishing the descending structure at 104.40 and breaking this level to the downside, USDJPY is expected to continue moving downwards with the short-term target at 103.83. After that, the instrument may correct to return to 104.40 and test it from below.

Forex Technical Analysis & Forecast 28.10.2020 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 completing the ascending structure at 0.9098, USDCHF is consolidating below this level. Today, the pair may break the range to the upside and reach the short-term target at 0.9137. Later, the market may start another correction to test 0.9098 from below and then resume trading within the uptrend to reach 0.9166.

Forex Technical Analysis & Forecast 28.10.2020 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 0.7124 without any particular direction. Possibly, the pair may expand the range up to 0.7150 and then resume falling to break 0.7094. After that, the instrument may continue moving within the downtrend with the target at 0.7050.

Forex Technical Analysis & Forecast 28.10.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing the ascending structure and testing 41.80 from below, Brent is moving downwards to break 40.50. Later, the market may continue falling towards 39.50 and then start a new correction to return to 41.80.

Forex Technical Analysis & Forecast 28.10.2020 BRENT
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 consolidating around 1903.00. Possibly, the pair may expand the range up to 1913.50 and then form a new descending structure to break 1897.80, Later, the market may continue trading within the downtrend with the short-term target at 1872.00.

Forex Technical Analysis & Forecast 28.10.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After finishing another ascending structure at 13500.00 and forming the consolidation range above this level, BTCUSD has broken the range to the upside. Possibly, the asset may continue moving upwards to reach 14000.00 or even extend this structure up to 14250.00. After that, the instrument may start another correction with the target at 13000.00.

Forex Technical Analysis & Forecast 28.10.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After rebounding from 3418.1 to the downside, the S&P index is expected to resume moving within the downtrend to reach 3335.3. Later, the market may correct towards 3400.0 and then start a new decline with the short-term target at 3275.0.

Forex Technical Analysis & Forecast 28.10.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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