Forex Technical Analysis & Forecast 07.11.2022

forex-technical-analysis-&-forecast-0711.2022

EURUSD, “Euro vs US Dollar”

The pair has formed an impulse of growth to 0.9962. At the moment, the market is forming a consolidation range under this level. With an escape downwards, we might see a correction to 0.9800. With an escape upwards, the wave of growth will extend to 1.0150.



GBPUSD, “Great Britain Pound vs US Dollar”

The pair has formed a consolidation range around 1.1284. With an escape upwards, a pathway to 1.1444 will open, followed by a correction to 1.1285 (a test from above). Then we should expect growth to 1.1555.



USDJPY, “US Dollar vs Japanese Yen”

The pair has formed a consolidation range around 147.00. With an escape downwards, a pathway to 145.50 will open. Then growth to 147.00 should follow (a test from below), and then – falling to 145.18.



USDCHF, “US Dollar vs Swiss Franc”

The pair has performed an impulse of decline to 0.9966. At the moment the market is forming a consolidation range around this level. With an escape downwards, the correction should continue to 0.9733.



AUDUSD, “Australian Dollar vs US Dollar”

The pair has formed an impulse of growth to 0.6480. At the moment, the market has formed a consolidation range under this level. An escape downwards to 0.6361 is expected. After this level is reached, a link of growth to 0.6433 is not excluded.



BRENT

Crude oil completed a wave of growth to 100.00. Today, we expect a link of correction to 96.00. After this level is reached, a new wave of growth to 120.00 should begin.



XAUUSD, “Gold vs US Dollar”

Gold has performed an impulse of growth to 1681.55. Today the market is forming a consolidation range under this level. An escape downwards and correction to 1648.00 is expected.



S&P 500

The stock index continues developing a wave of decline to 3676.6. After this level is reached, a new wave of growth to 3844.0 is likely to develop. With a breakaway of this level upwards, a pathway to 4000.0 should open.



Source: Roboforex

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