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Forex Technical Analysis Forecast for October 2021

EURUSD, Euro vs US Dollar                                                           As we can see in the daily chart, EURUSD is starting a new correction towards 1.1717. Possibly, today the pair may form another structure of the ascending wave towards 1.1630 and then start a new consolidation range. If later the price breaks this range to the upside, the market may continue the correctional wave and then resume falling with the target at 1.1530. After that, the instrument may form one more ascending wave to reach 1.1900.GBPUSD, Great Britain Pound vs US DollarIn the daily chart, after breaking 1.3600 to the downside, GBPUSD is forming another descending wave with the shortterm target at 1.3246. After that, the instrument may start another correction to test 1.3575 from below and then form a new descending structure to reach 1.3161.USDRUB, US Dollar vs Russian RubleAs we can see in the daily chart, USDRUB is still consolidating around 73.00. This month, the asset may fall with the shortterm target at 71.40 and then start a new correction to return to 73.00. Later, the market may resume trading downwards with the target at 70.60.USDJPY, US Dollar vs Japanese YenIn the daily chart, after leaving the consolidation range and breaking 110.52 to the upside, USDJPY has completed the ascending wave at 112.06; right now, it is correcting to test 110.52 from above. The main scenario implies that later the price may start a new growth and finish this ascending wave at 112.30.BRENTAs…

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