EUR/USD, “Euro vs US Dollar”

After breaking the consolidating range to the upside and finishing the ascending wave at 1.1747, EURUSD is forming a new consolidation range there. Possibly, the pair may break this range to the downside and reach 1.1717. Later, the market may break the latter level as well and start a new decline with the target at 1.1666.

EURUSD

GBP/USD, “Great Britain Pound vs US Dollar”

After finishing the ascending correctional structure, GBPUSD is consolidating below 1.3743. Today, the pair may break this range to the downside and reach the target at 1.3650. After that, the instrument may break the latter level as well and form a new descending structure towards 1.3590.

GBPUSD

USD/RUB, “US Dollar vs Russian Ruble”

USD/RUB is still consolidating around 72.77. If later the price breaks this range to the downside, the market may start a new decline towards 72.30; if to the upside – continue the correction with the target at 73.00.

USDRUB

USD/JPY, “US Dollar vs Japanese Yen”

After breaking the consolidation range to the upside and reaching 110.40, USDJPY is forming a new consolidation range there. Possibly, the pair may extend this structure up to 110.50 and then resume trading downwards to break 109.50. After that, the instrument may continue falling with the target at 108.85.

USDJPY

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is consolidating around 0.9243 without any particular direction. Possibly, today the pair may break the range to the upside and resume trading within the uptrend with the short-term target at 0.9330.

USDCHF

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has expanded its consolidation range up to 0.7305. Today, the pair may fall to break 0.7260 and then continue trading within the downtrend with the target at 0.7220.

AUDUSD

Brent

After completing the ascending wave at 77.60, Brent is consolidating there. Possibly, the asset may expand the range up to 77.70 and then start a new correction towards 75.50. Later, the market may form one more ascending structure with the target at 85.00.

Brent

XAU/USD, “Gold vs US Dollar”

After breaking the consolidation range to the downside and completing the descending structure at 1737.10, Gold is growing towards 1756.56 and may later start a new correction to reach 1747.10. After that, the instrument may resume trading upwards with the target at 1765.00.

Gold

S&P 500

After breaking the consolidation range to the upside and completing the ascending structure at 4465.5, the S&P index is falling towards 4411.1. Later, the market may start another growth to reach 4486.0 and then resume falling with the target at 4400.0.

S&P 500

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Editors’ Picks

EUR/USD gains traction and climbs above 1.1600 after US data

After dropping below 1.1600 earlier in the day, EUR/USD managed to stage a recovery in the early American session toward 1.1620 with the latest data releases from the US making it difficult for the greenback to find demand. US trade deficit expanded in September and durable goods orders contracted. 

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GBP/USD stays in the negative territory around mid-1.3700s

GBP/USD recovered modestly from the weekly low it set at 1.3710 earlier in the day but continues to trade in the negative territory around 1.3750. The dollar is staying on the back foot after the latest data releases but the cautious mood is limiting the pair's upside.

GBP/USD News

XAU/USD inches closer to $1,800 amid sliding bond yields/weaker USD

Gold attracted some dip-buying for the second successive day on Wednesday. Retreating US bond yields, weaker USD acted as a tailwind for the commodity. Hawkish central bank expectations might continue to cap gains for the metal.

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Shiba Inu price is due for a retracement after rallying 113% in less than three days. The MRI displays a major sell signal, hinting at a correction that could extend 17%.

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The Bank of Canada is expected to continue tapering its asset purchases and maintain its current rate posture when it concludes it meeting on Wednesday at 10:00 am EDT. Overnight rate projected to be unchanged at 0.25%.

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