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Daily Forex Technical Outlook - 22 Oct 2021

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Average: 5 (1 vote)

What Charts We're Watching

AUDUSD retests, JPY Strength back & USD corrects. Read our full breakdown to see!

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1D Chart
AUDUSD has done a break and retest pattern of the 0.74780 resistance level. TO confirm that this is not a fake out we need to see a break ABOVE yesterdays high at 0.75460.

1H Chart
Price is currently at support on the 1H chart, on the fibonacci golden pocket and the inner trendline. If these supports hold we look for continued upside into the 0.7650 price at the 61.8% fibo extension. If the support breaks look for price to move into the outer trendline.


1D Chart
Price has pulled back into support to retest the zone again. If this support holds we will look for continued upside into 1.17300, but if the zone breaks we will look for price to move into previous lows at 1.15300.

1H Chart
We are looking for support to hold. We are still bullish on EURUSD, however if the neckline breaks it will confirm a double top pattern, and we will look to trade the pair to the downside.


1D Chart
Similar to other USD quote pairs, GBPUSD has done a break out and retest pattern of the resistance trendline. Both support trendlines still hold, and the daily RSI is still bullish.

1H Chart
Price appears to be holding current support trendline and we remain bullish from this price. Alternatively, if this trendline breaks we will look for price to find support at the outer support trendline, which correlates with structure.


1D Chart
Price has formed a tweezer bottom candlestick pattern at support, and has broken the resistance trendline. The RSI has also given a buy signal. We are looking for price to retest the head and shoulders neckline.

1H Chart
Now that price has broken the down trendline resistance and bearish structure we are anticipating the upside to continue.


1H Chart
Price is still ranging in a wedge chart pattern. We anticipate a move into the trendline resistance prior to a sell off.

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