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Forex Technical Analysis & Forecast 18.10.2021

EURUSD, “Euro vs US Dollar”

After breaking 1.1585 to the downside, EURUSD is expected to consolidate around this level. Later, the market may break the range to the downside and form a new descending structure with the short-term target at 1.1555. After that, the instrument may start another growth to test 1.1585 from below and then resume falling to reach 1.1545.

Forex Technical Analysis & Forecast 18.10.2021 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”

After breaking 1.3734 to the downside, GBPUSD is falling to reach 1.3704 and may later start another growth to test 1.3734 from below. After that, the instrument may resume trading downwards with the first target at 1.3691.

Forex Technical Analysis & Forecast 18.10.2021 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 has finished another descending wave at 70.90. Today, the pair may grow to reach 71.06 and then resume falling within the downtrend with the target at 70.50.

Forex Technical Analysis & Forecast 18.10.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the ascending wave at 114.44. Today, the par may form a new consolidation range below this level. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 115.30; if to the downside – start a new correction towards 113.36.

Forex Technical Analysis & Forecast 18.10.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues growing towards 0.9272 and may later start a new correction to reach 0.9232. After that, the instrument may form one more ascending structure with the target at 0.9303.

Forex Technical Analysis & Forecast 18.10.2021 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 has completed the descending impulse at 0.7404 along with the correction towards 0.7434; right now, it is falling to return to 0.7404 and break it. After that, the instrument may continue falling with the target at 0.7366.

Forex Technical Analysis & Forecast 18.10.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After breaking 85.66 to the upside, Brent is consolidating around this level. Possibly, the asset may resume trading upwards to reach 87.37. Later, the market may start another correction towards 85.00 and then form one more ascending structure with the target at 90.00.

Forex Technical Analysis & Forecast 18.10.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has finished another descending structure at 1769.56; right now, it is consolidating around this level. Possibly, the metal may break this range to the upside and resume trading upwards with the target at 1784.75. After that, the instrument may start a new decline towards 1750.35.

Forex Technical Analysis & Forecast 18.10.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index is still consolidating above 4452.4. Today, the asset may resume falling to reach 4429.7 and then form one more ascending structure to test 4452.5 from below. After that, the instrument may continue trading downwards with the target at 4390.0.

Forex Technical Analysis & Forecast 18.10.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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