Market Technical Analysis by RoboForex

[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.

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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.

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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.

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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.

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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

 

[Riba.itu]

Murrey Math Lines 02.04.2024 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a breakout of 2/8 (0.6469) is expected, followed by a price decline to the support at 1/8 (0.6408). The scenario might be cancelled by rising above 3/8 (0.6530), in which case the quotes could increase to the resistance at 4/8 (0.6591).

View attachment 28476

On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a further price decrease.

View attachment 28477

NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, a test of 1/8 (0.5920) is expected, followed by a rebound from this level and a price rise to the resistance at 2/8 (0.5981). This growth is interpreted as a correction of a downtrend. The scenario might be cancelled by a breakout of 1/8 (0.5920), in which case, the quotes could drop to the support at 0/8 (0.5859).

View attachment 28478

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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

Interesting

 

[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.

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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.

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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.

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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

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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.

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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