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Forex Technical Analysis Forecast 05.11.2021

EURUSD, Euro vs US DollarAfter completing the descending structure at 1.1527, EURUSD is consolidating above this level. If later the price breaks this range to the upside, the market may correct towards 1.1570; if to the downside resume falling to break 1.1480 and then continue trading downwards with the target at 1.1404.GBPUSD, Great Britain Pound vs US DollarAfter finishing the descending wave at 1.3500, GBPUSD is consolidating around this level. If later the price breaks this range to the upside, the market may correct towards 1.3580; if to the downside resume falling with the shortterm target at 1.3333.USDRUB, US Dollar vs Russian RubleAfter breaking 71.95 to the upside, USDRUB is expected to continue the correction towards 72.70. After that, the instrument may fall to reach 70.60 and then form one more ascending structure with the target at 71.50.USDJPY, US Dollar vs Japanese YenUSDJPY has finished the descending wave at 113.50. Possibly, today the pair may correct towards 113.91 and then resume falling to break 113.25. After that, the instrument may continue trading downwards with the target at 112.80.USDCHF, US Dollar vs Swiss FrancUSDCHF is still consolidating around 0.9125. Possibly, today the pair may expand the range down to 0.9096 and then start another growth towards 0.9155. After that, the instrument may form a new descending structure to reach 0.9080. Later, the market may resume growing to break 0.9155 and then continue trading within the uptrend with the…

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