Forex Technical Analysis & Forecast by RoboForex

[Vlad RF]

EURUSD hits a 2-month low: the US dollar regains favour

The EURUSD pair continues to decline, with the market increasingly favouring the US dollar. Find out more in our analysis for 7 October 2024.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has reached the downward wave’s local target of 1.0951. A correction towards 1.1037 (testing from below) is possible today, 7 October 2024. Subsequently, another decline in the EURUSD rate could follow, with 1.0946 as the first target.

The EURUSD pair remains under intense pressure due to the growing market preference for the US dollar.

Read more - EURUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

USDJPY may undergo a correction: the market remains stable

The USDJPY pair is starting to undergo a correction as the US dollar appears overvalued. Find out more in our analysis for 8 October 2024.

USDJPY technical analysis

The USDJPY H4 chart shows the market forming a downward wave towards 146.60. The price is expected to reach this target level today, 8 October 2024, and then correct towards 147.90 (testing from below).

The USDJPY pair has paused its rally, allowing the yen to stabilise.

Read more - USDJPY Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Gold (XAUUSD) continues to correct, falling to the area near 2,600 USD

The XAUUSD price continues to correct downwards following Friday’s positive US labour market data release. Today’s market focus is on the Fed meeting minutes. Our XAUUSD analysis for today, 9 October 2024, provides further details and insights.

XAUUSD technical analysis

Gold prices continue to correct moderately as part of the uptrend. A triangle technical pattern has formed on the H4 chart, and the quotes fell below its lower boundary at 2,630 USD yesterday. Subsequently, they declined to the target support area near 2,600 USD, where the quotes encountered demand from buyers.

Gold prices are moderately correcting downwards, edging down to the support area near 2,600 USD.

Read more - Gold Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

AUDUSD found temporary support near 0.6700

AUDUSD quotes have halted their decline and are attempting to reverse upwards after encountering demand from buyers near 0.6700. More details can be found in our analysis for 10 October 2024.

AUDUSD technical analysis

The AUDUSD H4 chart shows that the market is forming a consolidation range around 0.6735. The AUDUSD rate is expected to break below this range and reach the target level of 0.6682 today, 10 October 2024.

The AUDUSD pair is still trading within a downward correction.

Read more - AUDUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

NZDUSD rises, with the market recouping previous losses

The NZDUSD pair is rising, and investors are buying the Kiwi at lows. Discover more in our analysis for 11 October 2024.

NZDUSD technical analysis

The NZDUSD H4 chart shows that the market has completed a downward wave, reaching 0.6051. A consolidation range has formed above this level. It is worth considering a breakout above the range towards the first target of 0.6138 today, 11 October 2024.

The NZDUSD pair is poised for a recovery after a sell-off phase.

Read more - NZDUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

EURUSD under pressure: the Fed holds off on rate cuts

The EURUSD rate is poised for another test of the EMA-200. Find out more in our analysis for 14 October 2024.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has completed a growth wave, reaching 1.0953, and corrected towards 1.0926, forming the boundaries of a consolidation range around 1.0926. The market has broken below the 1.0926 level. The range could extend towards 1.0898 today, 14 October 2024.

The EURUSD rate declines further amid expectations that the Federal Reserve will hold back from substantial interest rate cuts this year.

Read more - EURUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

USDJPY under pressure: uncertainty about Japan and China intensifies

The USDJPY rate is slightly declining after rising for two trading sessions. Find out more in our analysis for 15 October 2024.

USDJPY technical analysis

The USDJPY H4 chart shows the market has broken above the consolidation range at 149.30. A growth structure is expected to develop today, 15 October 2024, aiming for 150.20. After reaching this level, the USDJPY rate could decline to 149.30 (testing from above).

The USDJPY rate remains under pressure amid uncertainty about the BoJ’s monetary policy and the yen’s weakness due to China’s fiscal stimulus package.

Read more - USDJPY Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

EURUSD: New York manufacturing activity fell to its lowest level since May

The EURUSD rate has been declining for the third consecutive trading session. More details are available in our analysis for 16 October 2024.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has completed a downward wave towards 1.0881, extending the boundaries of the consolidation range around 1.0916. The price could rise to 1.0916 (testing from below) today, 16 October 2024. After reaching this level, the EURUSD rate is expected to plunge to 1.0833.

The data on declining manufacturing activity in New York may deter further declines in the EURUSD rate. This week’s crucial economic reports, including US retail sales and industrial production, may determine the pair's future direction.

Read more - EURUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Silver (XAGUSD) price rises, climbing above 31.00 USD

The XAGUSD price steadily rose after reversing from the support level near 30.00 USD. The trend is upward, and it is likely to continue. Our XAGUSD analysis for today, 17 October 2024, provides more details and insights.

XAGUSD technical analysis

XAGUSD quotes continue to rise gradually after receiving strong support from buyers in the price area near 30.00 USD and reversing upwards. Market participants now focus on an annual high of 32.95 USD. If the price surpasses this level, there is potential for growth to 35.00 USD.

Silver (XAGUSD) quotes continue ascending within the uptrend, potentially reaching an all-time high of 32.95 USD in the short term.

Read more - Silver Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Gold (XAUUSD) surges, rising above 2,700 USD

The XAUUSD price continues its upward rally, reaching a new all-time high of 2,714 USD today. The next growth target could be the 2,750 USD level. Our XAUUSD analysis for today, 18 October 2024, provides more details and insights.

XAUUSD technical analysis

Gold rises steadily within an uptrend after a bullish engulfing candlestick reversal pattern formed on the daily chart last week. The quotes are now trading around 2,705 USD, with strong upward momentum continuing.

Gold (XAUUSD) prices continue their upward surge within the uptrend, reaching a new all-time high of 2,714 USD.

Read more - Gold Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

GBPUSD is poised to recover with a rebound

The GBPUSD pair has halted its decline and is stabilising. The pound appears oversold. More details in our analysis for 21 October 2024.

GBPUSD technical analysis

The GBPUSD H4 chart shows that the market has completed a corrective wave, reaching 1.3070. A consolidation range is forming below this level today, 21 October 2024, with the potential to extend up to 1.3074. A decline and a breakout below the 1.3019 level will open the potential for further movement towards 1.2940, the first target.

The GBPUSD pair has rebounded, taking advantage of the stabilising US dollar and market expectations.

Read more - GBPUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

USDCHF: the franc is under pressure due to easing inflation

The USDCHF rate slightly declines on Tuesday. More details in our analysis for 22 October 2024.

USDCHF technical analysis

The USDCHF H4 chart shows that the market has formed a consolidation range around 0.8637. The price is expected to break above the upper boundary of this range and rise to 0.8717 today, 22 October 2024.

The USDCHF rate remains under pressure amid expectations of policy easing by the Swiss National Bank and the strength of the US dollar.

Read more - USDCHF Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

EURUSD reached a new local low as demand for the US dollar strengthens

The EURUSD pair continues to decline as the market turns towards safe-haven assets. Find out more in our analysis for 23 October 2024.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has completed a downward wave, reaching 1.0790. A correction towards 1.0825 (testing from below) could occur today, 23 October 2024. After the correction, the EURUSD rate is expected to decline to 1.0777, the first target.

The EURUSD pair has reached a 2.5-month low and remains under pressure.

Read more - EURUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Silver (XAGUSD) prices correct downwards from the area around 35.00 USD

XAGUSD prices are undergoing a downward correction after failing to break above the 35.00 USD level. The trend remains upward, with growth likely to continue. Find out more in our XAGUSD analysis for today, 24 October 2024.

XAGUSD technical analysis

XAGUSD quotes are currently undergoing a downward correction on the H4 chart, rebounding from the upper boundary of the ascending price channel. The price hit a new annual high of 34.86 USD. Once the correction is complete, further growth to the area above 35.00 USD can be expected.

Silver (XAGUSD) prices are correcting downwards after reaching another annual high of 34.86 USD

Read more - Silver Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

USDJPY remains stable: investors prepare for the Japanese elections

The USDJPY pair has halted its surge. The market preserves strength ahead of political developments. Find out more in our analysis for 25 October 2024.

USDJPY technical analysis

The USDJPY H4 chart indicates that the market continues its downward momentum towards 150.75, the first target. The price is expected to reach this target today, 25 October 2024, before beginning a correction towards 151.97 (testing from below).

The USDJPY pair has undergone a correction and paused.

Read more - USDJPY Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

USDCHF declines: a correction is necessary

The USDCHF pair is declining; the market requires a correction. Find out more in our analysis for 29 October 2024.

USDCHF technical analysis

The USDCHF H4 chart shows that the market has formed a growth wave structure towards 0.8697. A correction is expected to develop, aiming for 0.8636 today, 29 October 2024. After reaching this level, the price could rise to 0.8717, potentially extending the growth wave to 0.8740.

The USDCHF pair is poised for a correction after previous steady gains.

Read more - USDCHF Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

USDJPY is on hold: investors prefer to wait for further news

The USDJPY pair remains in a consolidation phase. The market is preserving its strength ahead of the BoJ meeting. Find out more in our analysis for 30 October 2024.

USDJPY technical analysis

The USDJPY H4 chart shows that the market continues to develop a narrow consolidation range around 153.30 without a clear trend. The range could extend to 154.15, with a decline to 153.30 today, 30 October 2024.

The USDJPY pair conserves strength before the Bank of Japan decides on its next interest rate.

Read more - USDJPY Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

AUDUSD: the pair has the potential to maintain its upward trajectory

Despite falling retail sales in Australia, the AUDUSD forecast is somewhat optimistic. More details in our analysis for 31 October 2024.

AUDUSD technical analysis

The AUDUSD H4 chart shows that the market has risen to 0.6595 and declined to 0.6563, practically outlining the boundaries of a consolidation range, expected to develop further today, 31 October 2024.

Falling retail sales in Australia and an increase in US initial jobless claims offset each other.

Read more - AUDUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

NZDUSD started to consolidate, but risks persist

The NZDUSD pair maintains its strength on Friday. Yesterday’s US statistics may prompt adjustments. More details in our analysis for 1 November 2024.

NZDUSD technical analysis

The NZDUSD H4 chart shows that the market has reached the local target of the downward wave at 0.5940. A growth impulse towards 0.5983 has formed today, 1 November 2024.

The NZDUSD pair halted its decline but remains under pressure due to the fundamental environment.

Read more - NZDUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team

 

[Vlad RF]

The GBPUSD pair is poised for a rebound, but volatility is increasing

The GBPUSD pair rose, with the pound supported by the local weakness of the US dollar. More details in our analysis for 4 November 2024.

GBPUSD technical analysis

The GBPUSD H4 chart shows that the market has received support at 1.2914 and continues to correct towards 1.3060. The price could break above the 1.2989 level today, 4 November 2024, and continue to develop a new growth wave, aiming for 1.3060 as the local target.

The GBPUSD pair has declined as the weakening US dollar allowed the pound to recover.

Read more - GBPUSD Forecast

Attention!
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.

Sincerely,
The RoboForex Team