Weekly forecast (October 17 – 21, 2022)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 68,16, which will be followed by moving up to resistance level 72,70.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 68,16, which will be followed by reaching support level 64.05 and 60.75.
Previous week forecast
Monthly forecast, October 2022
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 68,16, which will be followed by moving up to resistance level 72,70.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 68,16, which will be followed by reaching support level 61,24 and if it keeps on moving down below that level, we may expect the market to reach support level 54,42.
Previous week forecast
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
Recommended Content
Editors’ Picks
EUR/USD stays vulnerable near 1.0600 ahead of US inflation data
EUR/USD remains under pressure near 1.0600 in European trading on Wednesday. The pair faces headwinds from the recent US Dollar upsurge, Germany's political instability and a cautiou market mood, as traders look to US CPI data and Fedspeak for fresh directives.
GBP/USD falls to near 1.2750 ahead of BoE Mann speech
GBP/USD extends its losing streak for the fourth successive session, trading around 1.2740 during the Asian hours on Wednesday. This downside of the pair is attributed to a stronger US Dollar amid optimism around the Trump trades.
Gold price sticks to gains above $2,600 amid some repositioning ahead of US CPI
Gold price staged a notable recovery from a nearly two-month low touched on Tuesday. Elevated US bond yields and a bullish USD might cap gains for the non-yielding XAU/USD. Traders now look forward to the crucial US consumer inflation figures for a fresh impetus.
US CPI data preview: Inflation expected to rebound for first time in seven months
The US Consumer Price Index is set to rise 2.6% YoY in October, faster than September’s 2.4% increase. Annual core CPI inflation is expected to remain at 3.3% in October. The inflation data could significantly impact the market’s pricing of the Fed’s interest rate outlook and the US Dollar value.
Five fundamentals: Fallout from the US election, inflation, and a timely speech from Powell stand out Premium
What a week – the US election lived up to their hype, at least when it comes to market volatility. There is no time to rest, with politics, geopolitics, and economic data promising more volatility ahead.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.