Technical Analysis by RoboForex

[Vlad RF]

Elections and oil unsettle gold: XAUUSD back near 3,940 USD

XAUUSD prices are hovering around 3,940 amid uncertainty surrounding the results of the US midterm elections and falling oil prices. However, expectations of a Federal Reserve rate hike in December continue to limit gold's upside potential.

Technical outlook

XAUUSD maintains a bearish structure on the H4 timeframe. Following a sharp decline towards 3,890, prices staged a corrective rebound but failed to consolidate above 3,968 and remain below the middle Bollinger Band.



The XAUUSD forecast for 4 November 2026 suggests that bearish momentum will persist, with a potential downside target at 3,897.

Read more - Gold Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Elections weaken the dollar as EURUSD challenges 1.1270

The EURUSD pair is hovering near local highs, supported by US dollar weakness following the US midterm elections and a sharp decline in oil prices. The rate currently stands at 1.1254.

Technical outlook

The EURUSD pair continues to recover after rebounding from the 1.1120 area and is once again testing the key resistance level at 1.1269. The price is hovering above the middle Bollinger Band, while a sequence of higher local lows indicates continued upward momentum.



The EURUSD forecast for 5 November 2026 indicates continued bullish momentum.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Markets pause ahead of NFP: employment data holds the key to EURUSD's next move

The euro continues to lose ground following its recent attempts to recover. Today's key catalyst is the release of US employment data (Nonfarm Payrolls). The EURUSD rate currently stands at 1.1195.

Technical outlook

On the H4 chart, the EURUSD pair has formed a Shooting Star reversal pattern near the upper Bollinger Band. At this stage, the price could extend the downward wave as the pattern's signal plays out, with the downside target at the 1.1115 support level.



The US dollar continues to put pressure on the euro ahead of the October Nonfarm Payrolls release.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team