Technical Analysis & Forecast 04.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has made a declining movement to 1.0447. At the moment, the market is forming a consolidation range around 1.0465. With an escape from the range upwards, a link of correction to 1.0500 is not excluded. With a downward breakout of the range, the potential for a wave to 1.0408 might open. After the price reaches this level, a link of correction to 1.0500 is not excluded (with a test from below). Next, a decline to 1.0383 is expected. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has made a declining movement to 1.2052. At the moment, the market is forming a consolidation range around 1.2080. With an escape from the range upwards, a link of growth to 1.2112 is not excluded. With a downward escape, the market might continue developing the wave to 1.1947. And if this level also breaks downwards, the potential for a decline to 1.1900 could open. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY completed a wave of growth to 150.13 and corrected to 147.30. Today the market has made an impulse of growth to 149.32. At the moment, the market is forming a consolidation range around 149.08. It is expected to extend to 149.60. Next, a decline to 149.08 is to follow (with a test from above). Next, a rise to 150.90 is not excluded.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a wave of growth to 0.9242. Today the market performed a link of decline to 0.9204 (with a test from above). Practically, a consolidation range has formed around this level. Escaping the range upwards, the price could open the potential for a wave of growth to 0.9297, from where the trend could continue to 0.9318.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a wave of decline to 0.6290. By now, a consolidation range has formed above this level. With an escape upwards, the potential for a rise to 0.6355 could open (with a test from below). With an escape downwards, the trend might continue to 0.6250, and the wave might extend to 0.6216.

BRENT

Brent has corrected to 89.33. A consolidation range is forming above this level today. With an escape from the range upwards, the wave of growth could continue to 96.96. This is a local target. After the price reaches this level, a link of correction to 92.70 is not excluded. Next, a rise to 104.00 might follow.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1815.15. Today the market completed a link of growth to 1833.00 (with a test from below). Next, a decline to 1809.00 is expected. And with a breakout of this level as well, the potential for a decline to 1785.85 might open. This is a local target.

S&P 500

The stock index continues developing a wave of decline to 4202.2. After the price reaches this level, a rise to 4250.0 is expected (with a test from below). Next, a decline to 4170.0 could follow. This is a local target.