Forex Technical Analysis & Forecast 07.11.2017 (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 still consolidating around 1.1600. If later the instrument breaks this range to the upside, the market may continue the correction towards 1.1680; if to the downside – reach 1.1530 (the main scenario).
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has broken the consolidation range to the downside and tested 1.3176 from below. Possibly, today the price may choose an alternative scenario and continue the correction towards 1.3223. However, the main scenario implies that the instrument may continue falling to reach the local target of the fifth descending wave at 1.3000.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still consolidating in the middle of the range without any particular direction. We think, today the price may grow to break 1.0035. The target is at 1.0100. After that, the instrument may start another correction towards 0.9888.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still consolidating. According to the main scenario, the price may grow inside the uptrend with the target at 115.00 and then start another decline towards 112.70.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to rebound from the upside border of the descending channel. The target is at 0.7615. After that, the instrument may start another correction to reach 0.7815.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is forming the first descending impulse with the target at 58.67. Later, in our opinion, the market may grow to reach 58.95 and then resume falling towards 58.15. The main target of this wave is at 56.55.
XAU USD, “Gold vs US Dollar”
Gold hasn’t been able to continue falling and formed another correction instead to reach 1279.20. We think, today the price may continue falling to break 1267.00. The local target is at 1254.00.
BRENT
Brent has reached its first target at 62.57. Possibly, today the price may be corrected towards 63.00. After that, the instrument may resume growing to reach 65.65 and then start another correction with the target at 60.30.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.