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Daily Forex Technical Outlook - 25 Oct 2021

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AUDUSD & EURUSD hold support, indecision on major FX symbols currently. Read on for more!

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1D Chart
Price has held the support zone around 0.74780, and the ADX is increasing, showing that the trend is picking up steam. We would like to see the previous days high broken to the upside to confirm a continuation.

1H Chart
Price has stabilised, forming support on the 1H chart at 0.74550. Price is still holding above the support trendline, and we are looking for a bounce from this zone today.


1D Chart
Price is stalling after breaking the descending wedge pattern. We are still looking for upside, however need to see the previous days high broken first.

1H Chart
Price is still holding in the trading range. We want to see a break out of this range to confirm a directional bias. We are also seeing a bullish flag pattern here, so currently hold an unconfirmed bullish bias.


1D Chart
GBPUSD has faked out of the resistance trendline and now lies at the support trendline. We are looking for price to bounce from these levels and continue to the upside.

1H Chart
Price is holding support at 1.3729, and we're looking for a continued upside move into the 1.3900 level. Alternatively, if price breaks below support we will look for continued downside.


1D Chart
Price has bounced from the resistance trendline, breaking support. USDCHF is now pressing to the downside, and we are seeing two potential support zones. First is the trendline support, and below that we are looking at the historic support level ay 0.9030.

1H Chart
Price is approaching the 61.8% fibonacci extension, where we will likely see some profit taking / support forming. We are still looking for price to press further downside, below the 0.9140 level.


1D Chart
Price is breaking the resistance trendline to the upside, now aiming towards the resistance around 1830. If price is able to break up from 1830 the bearish structure will be broken, and point to a bulls returning.

1H Chart
Price has broken and retested the resistance trendline, confirming a bullish structure on the 1H chart. The RSI is holding support around 50% level, indicating further upside.

Find out how you should trade the major forex pairs and gold today! See the best chart setups and our analysis.

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