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Forex Technical Analysis Forecast 01.11.2021

EURUSD, Euro vs US DollarAfter rebounding from 1.1690, EURUSD has completed the descending wave at 1.1535; right now, it is consolidating above the latter level. If later the price breaks the range to the upside, the market may start another correction towards 1.1600 and then form a new descending structure with the target at 1.1505. On the other hand, the asset may break the range to the downside to reach the abovementioned target and then form one more ascending structure towards 1.1600.GBPUSD, Great Britain Pound vs US DollarAfter rebounding from 1.3813 to the downside and completing the descending wave at 1.3666, GBPUSD is consolidating above the latter level. Possibly, today the pair may correct towards 1.3727 and then resume falling with the target at 1.3608. Later, the market may form one more ascending structure to test 1.3700 from below.USDRUB, US Dollar vs Russian RubleAfter forming a new consolidation range around 70.60 and breaking it to the upside, USDRUB is expected to continue the correction with the shortterm target at 71.17. Later, the market may correct to test 70.60 from above and then start another growth to reach 72.00.USDJPY, US Dollar vs Japanese YenAfter rebounding from 113.72 to the upside and then finishing the ascending wave at 114.22, USDJPY is consolidating around the latter level. If later the price breaks this range to the upside, the market may extend the ascending wave up to 115.22; if to the downside start a new decline with the target at…

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