Forex Technical Analysis & Forecast 05.10.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is consolidating below 1.1764. According to the main scenario, the instrument may break the lows and then continue falling inside the downtrend to reach 1.1660. An alternative scenario implies that the market may be corrected towards 1.1800 and then resume moving downwards to reach the local target.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still consolidating near the lows of the third descending wave. Possibly, today the price may be corrected to the upside to reach 1.3355. However, if the instrument breaks the range to the downside, it may fall with the target at 1.3170.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has rebounded from 0.9700 to the upside again and right now is forming the third ascending wave. The local target is at 0.9840. We think, today the price may break the consolidation channel and grow to reach 0.9800.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still consolidating around 112.71. According to the main scenario, the instrument may fall towards 112.27, break it, and then reach 111.50. An alternative scenario implies that the market may break 112.90 and continue growing with the target at 113.66.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is trading to rebound from 0.7868. Possibly, the price may continue falling to reach the local target at 0.7753. After that, the instrument may be corrected towards 0.7927.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is forming the third structure of another descending wave. We think, today the price may consolidate around 57.50. If later the instrument breaks this range to the downside, the market may reach 57.00 and then return to 57.50 to test it from below. Later, in our opinion, the market may fall to reach 56.66.

XAU USD, “Gold vs US Dollar”

Gold is is trading to rebound from 1280.00. Possibly, today the price may consolidate around 1273.50. After that, the instrument may break this consolidation channel to the downside, reach 1265.60, and then start another ascending correction with the first target at 1290.00.

BRENT

Brent is consolidation near the lows of the correction around 55.83. We think, today the price may grow to break 56.32. The first target is at 57.20. Later, in our opinion, the market may continue growing inside the uptrend to reach the local target at 59.85. An alternative scenario implies that the instrument may break the range to the downside and extend the correction towards 54.00.

RoboForex Analytical Department