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Forex Technical Analysis & Forecast 27.10.2021

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1622 to the downside and then reaching 1.1584, EURUSD is expected to correct towards 1.1619 and may later resume falling to return to 1.1585. After that, the instrument may break this level and continue trading downwards with the short-term target at 1.1528.

Forex Technical Analysis & Forecast 27.10.2021 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 rebounding from 1.3824 to the downside and completing the descending wave at 1.3782, GBPUSD has broken the latter level and may later continue falling towards 1.3737. And that’s just a half of this wave. The short-term target of this descending wave is 1.3660.

Forex Technical Analysis & Forecast 27.10.2021 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 the descending wave at 69.39; right now, it is consolidating above this level. Possibly, the pair may break the range to the upside and start a new correction to reach 70.00. Later, the market may resume falling within the downtrend with the target at 69.00.

Forex Technical Analysis & Forecast 27.10.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After forming a new consolidation range around 113.95 and breaking it to the upside, USDJPY is expected to continue growing towards 114.40 or even extend the correction up to 114.50. However, any ascending movements should be considered as an alternative scenario. The main scenario implies a further downtrend with the target at 113.22.

Forex Technical Analysis & Forecast 27.10.2021 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 has finished the ascending wave at 0.9223 along with the descending impulse towards 0.9188; right now, it is forming a new consolidation range above the latter level. If later the price breaks this range to the downside, the market may resume falling with the target at 0.9177; if to the upside – form one more ascending structure to reach 0.9300.

Forex Technical Analysis & Forecast 27.10.2021 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 is still consolidating around 0.7500. Today, the pair may grow to reach 0.7556 and then fall to return to 0.7500. Later, the market may break the latter level to the downside and start a new decline the target at 0.7444.

Forex Technical Analysis & Forecast 27.10.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating around 85.55. If later the price breaks this range to the upside, the market may resume trading within the uptrend with the target at 87.00; if to the downside – start a new correction towards 84.60 and then form one more ascending structure to reach the above-mentioned target.

Forex Technical Analysis & Forecast 27.10.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After completing the ascending structure at 1791.37, Gold is forming a narrow consolidation range around this level. If later the price breaks this range to the upside, the market may resume trading within the uptrend with the target at 1814.00. After breaking this level as well, the instrument may continue growing towards 1825.35. On the other hand, if the asset breaks the range to the downside, it may start a new decline to reach 1772.50.

Forex Technical Analysis & Forecast 27.10.2021 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 around 4573.3. Possibly, today the asset may expand the range up to 4607.7 and then fall to return to 4573.3. Later, the market may resume trading upwards with the target at 4621.2.

Forex Technical Analysis & Forecast 27.10.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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