Technical Analysis & Forecast 10.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has made a corrective movement to 1.0519. Today the market continues developing the rising movement to 1.0595. Next, a consolidation range could form around this level. With an escape upwards, the potential for a rising wave to 1.0670 might open. Next, a corrective link to 1.0595 is not excluded (with a test from above). After the correction is over, a wave of growth to 1.0707 might begin. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has made a declining movement to 1.2163. Today the market has performed a wave of growth to 1.2242. At the moment, a consolidation range is forming around this level, which the quotes could escape upwards, reaching 1.2375. This is a local target. Next, a correction to 1.2242 (with a test from above) and growth to the 1.2444 level might follow.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a wave of growth to 149.52 and a correction to 148.16. Today the market has started a rising wave to 149.40. With a breakout of this level, the potential for a wave to 150.55 could open. This is a local target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has formed a consolidation range around 0.9083. Today the market is escaping it downwards. Practically, the potential for a decline to 0.8991 might open. This is a local target. After the price reaches this level, the price might correct to 0.9083 (with a test from below), after which a decline to 0.8928 could follow.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has formed a rising link to 0.6430. A corrective link to 0.6386 could form today, followed by a rise to 0.6460. This is a local target. Extension of the growing wave to 0.6488 is not excluded.

BRENT

Brent continues forming a consolidation range above 86.00. An escape upwards to 89.00 is expected. This is the first target. Next, a correction to 86.00 could follow (with a test from above). After that, a new wave of growth to 94.00 might start, from where the trend could continue to 97.07.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of growth to 1865.18. Today the market is forming a corrective structure to 1844.20 (with a test from above). After the price reaches this level, the quotes could rise to 1877.70 and drop to 1844.10.

S&P 500

The stock index has formed a consolidation range around 4276.0. Today the market has escaped the range upwards, forming a wave of growth to 4344.3. This is a local target. A correction to 4276.0 might begin (with a test from above). And next, the quotes could rise to 4351.5.