Technical Analysis & Forecast 03.11.2023

EURUSD, "Euro vs US Dollar"

EURUSD has completed a wave of growth to 1.0666. A link of decline to 1.0590 might follow today (with a test from above). Next, a link of growth to 1.0680 is not excluded. After the price reaches this level, a decline to 1.0497 could follow. Practically, a wide consolidation range is forming around 1.0590.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a wave of growth to 1.2222 and a correction to 1.2166. A link of decline to 1.2160 is not excluded (with a test from above). Next, a link of growth to 1.2230 could follow. After the price reaches this level, a new declining wave to 1.2100 might begin.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a corrective wave to 149.86. Today the market has formed a rising impulse to 150.53. A link of correction to 150.19 is expected. After the correction is over, a wave of growth to 150.90 could start, from where the trend might continue to 151.30.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a corrective wave to 0.9017. An impulse of growth to 0.9070 has formed today. A link of correction to 0.9041 is expected. Next, the pair might rise to 0.9105, from where the trend could continue to 0.9133.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a rising structure to 0.6455 and a link of correction to 0.6412. Today the quotes could climb to 0.6437. Next, a decline to 0.6390 is expected, from where the declining wave might continue to 0.6366.

BRENT

Brent has completed a wave of growth to 87.00. Today the market is forming a consolidation range around this level. An escape upwards and further growth to 89.50 are expected. This is the first target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of correction to 1990.80. A structure of decline to 1952.00 might form today, from where the trend might extend to 1928.28. This is a local target.

S&P 500

The stock index continues developing an ascending wave to 4330.0. Upon reaching this level, the price is expected to form a consolidation range below it. With an escape from the range downwards, a new declining wave to 4255.0 could begin, from where the trend might continue to 4175.0. This is the first target.