Currency Forecasts

EUR/USD: an entry point
EUR/USD once again failed to overcome the resistance level and now is falling to the strong support line at 1.156. From this line I expect the price to reverse the trend and start moving up towards the resistance level of 1.190. Thus, in this situation the optimal time to open a buy trade will be EUR/USD starting to rise from the strong support line at 1.156.


AUD/USD has reached the support line
Since March, the AUD/USD price has been growing in an uptrend, but at the beginning of this week it came to the resistance level of 0.737. Moreover, the price was unable to overcome this level and changed the trend to a falling one, having worked out the correction to the support line 0.713.
Thereby, AUD/USD can be supposed not to break this line, but, on the contrary, will push off from it. AUD/USD is expected to reach the resistance level of 0.737 in the near future.


GBP/AUD is on the resistance line
After a continuous growth, in April 2020 the GBP/AUD price began to lose ground. In July, it had made an attempt to change the trend, but as a result, only a price correction took place, and then the falling restarted. The second such attempt to level out was made in mid-September, but now on the daily TF we can see that GBP/AUD has come to the resistance line of 1.786. The currency pair shouldn't be predicted to break this line.
I assume that it will continue falling and reach the strong support line at 1.738.


NZD/JPY: 100 pips trade
NZD/JPY has been moving in a downward channel for a long time. In September the price approached the upper border of this channel at the level of 71.5, and moved along it over the month.
As expected, NZD/JPY has continued to fall after failing to change the trend globally and returning beyond the resistance line. Now you can see that the price has approached the support line at 68.9. Taking this fact into consideration, I expect NZD/JPY to start rising. Besides, the target in this case is the resistance line 70.3.


Please, pay your attention! Financial market forecasts are authors' private opinions. The current analysis is not intended to be a trading guide. The author is not responsible for the results of work that may arise when using trading recommendations from the forecasts presented.