Market Technical Analysis by RoboForex

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

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

 

[RoboForex Team]

USDCHF: the pair continues to correct ahead of the US presidential election

Switzerland’s stable unemployment rate and the upcoming US election may strengthen the Swiss franc. Discover more in our analysis for 5 November 2024.

USDCHF technical analysis

The USDCHF H4 chart shows that the market has formed a downward wave towards 0.8615. A growth structure is expected to develop today, 5 November 2024, aiming for 0.8666. A breakout above this level will open the potential for a growth wave towards 0.8720, the local target.

Alongside technical analysis for today’s USDCHF forecast, the US presidential election and fundamental data suggest a potential growth wave towards 0.8720.

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

 

[RoboForex Team]

Gold (XAUUSD) continues to correct, falling to 2,700 USD

XAUUSD prices continue to correct, plunging to 2,700 USD amid US dollar growth driven by the US election. Once the correction is complete, growth could resume. Discover more in our XAUUSD analysis for today, 6 November 2024.

XAUUSD technical analysis

On the H4 chart, the XAUUSD pair continues to correct downwards as part of a strong uptrend. Today, the quotes fell to the 2,700-2,710 USD support area, which coincides with the lower boundary of the ascending price channel.

XAUUSD quotes continue to correct downwards amid the strengthening of the US dollar due to the ongoing US presidential election, with no doubts remaining about Trump’s victory.

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