Will EUR/GBP Stop Falling?

EUR/GBP

In the first weeks of September, EUR/GBP made a sharp rise and almost reached the borders of its previous high. But after that there was a pullback and the price equaled out. Afterwards, it made several correction attempts, but now it can be seen that the pair dropped to the support line 0.905. Focusing on the skyrocketing growth in early autumn and price indices over the past month, EUR/GBP is expected to break this line. Thus, the target for the pair is the support line at 0.895.

EUR/GBP

XAU/USD

During recent weeks, the pair had shown a slow, but rather steady rise in an uptrend, however now the price has reached a strong resistance zone at 1927.8. On the chart, we see that this resistance line has been steadily steming the price growth over the past months. Therefore I suppose that the pair will not be able to break through it even now. Moreover, in the future, XAU/USD will fall and return to the support line 1872.6.

XAU/USD

USD/JPY

For the USD/JPY pair, rather sharp price fluctuations are expected: significant collapses and growth spurts. Throughout most of September, the price was falling with minimal correction attempts. Then we watched the pair gaining the ground, having broken through even a strong resistance line. But a few days ago USD/JPY expanded in a downtrend and now the price is predicted to continue its falling to the strong support around 104.6.

USD/JPY

EUR/JPY

Since June, EUR/JPY had been moving in an upward trend. Besides, it had moved in a rather ragged manner, making small, but frequent pullbacks and corrections. In September, the trend changed, and the price collapsed significantly. Over the past week, the pair managed to gain almost all of the lost positions, but now the price has reached a strong resistance zone of 124.6. Since this growth is corrective to the past decline, I expect the price to stop at this resistance and then fall towards the 123.7 strong support line.

EUR/JPY

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.

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