empty
31.10.2024 04:52 AM
Forecast for AUD/USD on October 31, 2024

Each day leading up to the U.S. elections, the Australian dollar shows increasingly erratic movements, diverging from indicator signals, yet its fluctuations remain within a narrow and steep descending channel.

This image is no longer relevant

In efforts to confound speculators, the pair targets 0.6410 — the lower boundary of the local channel. Slightly below lies another target, the range of April and August lows at 0.6351/65. The close of today's session opens the first downward target at 0.6482.

On the H4 chart, the price has settled below the MACD line. The Marlin oscillator is conducting the process of consolidation in the downtrend territory.

This image is no longer relevant

The next step is for the price to consolidate below the 0.6570 level firmly.

For an upward movement, merely settling above the MACD line or breaking yesterday's high will not be sufficient. A breakout above the upper boundary of the price channel on the daily chart, at 0.6607, is essential for a sustained rise.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST

Recommended Stories

EUR/USD – March 18th: Christine Lagarde Warns the U.S.

On Monday, the EUR/USD pair once again moved toward the 1.0944 level, but this time, bulls failed to reach this target. As a result, no new trading signals were generated

Samir Klishi 10:30 2025-03-18 UTC+2

Forex forecast 18/03/2025: EUR/USD, GBP/USD, USD/CAD, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:16 2025-03-18 UTC+2

GBP/USD – March 18: Will the FOMC Help the Dollar?

On the hourly chart, GBP/USD rebounded from the 1.2931 level on Monday and resumed its upward movement toward the 127.2% Fibonacci level at 1.3003. A rejection from this level would

Samir Klishi 10:03 2025-03-18 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Tuesday March 18, 2025.

In the 4-hour chart of the Gold commodity instrument, Convergence is visible, which confirms that in the near future Gold has the potential to strengthen even though because the Stochastic

Arief Makmur 08:17 2025-03-18 UTC+2

Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs, Tuesday March 18, 2025

If we look at the 4-hour chart, the EUR/JPY cross currency pair appears to be moving harmoniously in the Bullish Pitchfork channel, which indicates that the bias of EUR/JPY

Arief Makmur 08:01 2025-03-18 UTC+2

EUR/USD Forecast for March 18, 2025

The extended Federal Reserve meeting on monetary policy is approaching, so we cannot yet conclude that yesterday's 0.64% rise in the S&P 500, the 0.32% drop in the dollar index

Laurie Bailey 03:37 2025-03-18 UTC+2

GBP/USD Forecast for March 18, 2025

On Monday, the pound rose by 53 pips and is now testing the resistance level at 1.3001. A breakout above this level would propel the pound's growth toward 1.3101. However

Laurie Bailey 03:37 2025-03-18 UTC+2

USD/JPY Forecast for March 18, 2025

This morning, the yen reached the 149.38 level, which coincides with the 23.6% Fibonacci retracement. This level is significant as it suggests a potential reversal into a new wave

Laurie Bailey 03:37 2025-03-18 UTC+2

Trading Signals for BITCOIN for March 17-19, 2025: sell below $85,000 (21 SMA - 200 EMA)

The key point for selling Bitcoin is to wait for it to reach $87,500 to $88,500, both of which could be good points to sell with short-term targets around $80,000

Dimitrios Zappas 15:16 2025-03-17 UTC+2

Trading Signals for EUR/USD for March 17-19, 2025: buy above 1.0875 (+1/8 Murray - 21 SMA)

Early in the American session, the EUR/USD pair was trading around 1.0895, above the 21 SMA, and above the 8/8 Murray, with a bullish bias. The euro is expected

Dimitrios Zappas 14:56 2025-03-17 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.