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Forex Technical Analysis & Forecast 17.10.2022

EURUSD, “Euro vs US Dollar”

EURUSD worked off a downward wave to 0.9707 and performed a rising link to 0.9767. Today the market is forming a downward structure to the level 0.9670. Its breakdown will open the potential for the development of the wave to 0.9544.

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 performed a downward momentum towards 1.1151. Today the market is forming a correction to 1.1265. After its completion we will consider the continuation of the trend to the level 1.1033 with the prospect of stretching this wave to 1.0930.

GBPUSD
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 worked its way up to 148.83. At the moment, the market is forming a consolidation range below it. An exit upwards will open up the potential for growth to 149.40. On the way down, a drop to 147.70 is possible.

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 to form a consolidation range above 0.9993. With the exit from it upwards, we expect the continuation of the growth wave to 1.0202. The target is local.

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 pair continues a downward trend towards 0.6166. After this level is reached, consider the possibility of a correction to 0.6255. Further, a decline to the level of 0.6140.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

BRENT has worked off a correction wave to 91.66. Today, we see the development of an upside structure towards 95.55. A break up will open up the potential for a continuation of the trend towards 99.00.

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 worked off the downside wave to 1640.15. Today the market is forming a growth impulse to 1660.80. After this level is worked out, we expect a decline to 1650.55.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index continues to form a consolidation range around the 3606.0 level. A continuation of the downside wave to 3499.0 is seen today. And with a breakdown of this level downwards, the potential for reaching 3410.0 will open up.

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


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