Forex Technical Analysis & Forecast 28.10.2021

EURUSD, “Euro vs US Dollar”

After completing the descending structure at 1.1588 along with the correction towards 1.1608, EURUSD is consolidating around the latter level. Possibly, today the pair may grow to reach 1.1625 and then resume falling to return to 1.1588. If later the price breaks this range to the downside, the market may start a new decline with the target at 1.1530; if to the upside – form one more ascending structure to reach 1.1660.

GBPUSD, “Great Britain Pound vs US Dollar”

After rebounding from 1.3777 to the downside and completing the descending wave at 1.3710, GBPUSD is consolidating there. If later the price breaks this range to the upside, the market may start another correction with the target at 1.3777; if to the downside – form a new descending structure to reach 1.3666.

USDRUB, “US Dollar vs Russian Ruble”

After finishing the descending wave at 70.00 and forming a new consolidation range there, USDRUB has broken it upwards to reach 70.66. Possibly, the pair may continue growing towards 70.80 and then resume falling within the downtrend with the target at 70.00.

USDJPY, “US Dollar vs Japanese Yen”

After completing another ascending wave at 113.40 and then returning to 113.80, USDJPY is still consolidating around the latter level. Today, the pair may expand the range down to 113.30 and then grow to return to 113.80. If later the price breaks this range to the downside, the market may start a new decline with the first target at 112.90.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the descending wave at 0.9163 along with the ascending impulse to return to 0.9190; right now, it is consolidating below the latter level. If later the price breaks this range to the downside, the market may resume falling with the target at 0.9153; if to the upside – form one more ascending structure to reach 0.9222.

AUDUSD, “Australian Dollar vs US Dollar”

After reaching the upside border of the range at 0.7532 and then falling towards the downside one at 0.7479, AUDUSD is still consolidating around 0.7500 without any particular direction. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 0.7444; if to the upside – form one more ascending structure to reach 0.7555.

BRENT

After breaking 84.86 and finishing the correctional structure at 82.43, Brent has completed the ascending impulse to reach 83.66. Possibly, the asset may correct towards 83.00 and then form one more ascending structure with the target at 84.86.

XAUUSD, “Gold vs US Dollar”

After forming a new consolidation range around 1796.21, Gold is growing towards 1807.55. After that, the instrument may start another decline to return to 1796.21 and the resume growing with the target at 1810.80.

S&P 500

After forming a new consolidation range around 4575.7, the S&P index is falling towards 4552.1 and may later grow to test 4575.7 from below. If later the price breaks this range to the downside at 4552.0, the market may start a new decline towards 4518.0; if to the upside at 4599.9 – form one more ascending structure with the target at 4600.0.