Technical Analysis & Forecast 11.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has made a rising movement to 1.0619. Today the market is forming a consolidation range under this level. With an escape from the range upwards, the potential for a wave of growth to 1.0672 could open, followed by a link of correction to 1.0595 (with a test from above). After it is over, a rising wave to 1.0707 might start. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a rising movement to 1.2302. Today the market is forming a consolidation range under this level. Next, the price might escape the range upwards, aiming at 1.2375. This is a local target. Next, a correction to 1.2242 (with a test from above) and growth to 1.2444 could follow.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY completed a wave of growth to 149.08 and corrected it to 148.41. Today the market is developing a rising wave to 149.35. If this level also breaks, the potential for increasing to 150.55 might open. This is a local target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has made a rising movement to 0.9083 (with a test from below). Today the market has made another declining structure to 0.9036. At the moment, a consolidation range is forming above this level. The quotes are expected to break the range downwards and extend the wave to 0.8993. This is a local target. After the quotes reach it, a link of growth to 0.9083 might follow (with a test from below), accompanied by a decline to 0.8928.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a link of growth to 0.6444. A corrective link of a decline to 0.6386 might form today, followed by a rise to 0.6460. This is a local target. The wave of growth might extend to 0.6488.

BRENT

Brent continues forming a consolidation range above 86.00 without any strong trend. An escape from the range upwards to 89.00 is expected. This is the first target. Next, a correction to 86.00 (with a test from above) is not excluded. After which a new wave of growth to 94.00 could begin, from where the trend might continue to 97.07.

XAUUSD, “Gold vs US Dollar”

Gold has completed a rising wave to 1865.30. Today the market has corrected to 1852.70. At the moment, a consolidation range is forming above this level. With an escape from the range downwards, a link of correction to 1840.00 is not excluded. After the price reaches this level, the quotes might rise to 1867.50, followed by a decline to 1840.00.

S&P 500

The stock index has formed a consolidation range around 4296.0. Today the market escaped the range upwards, forming a rising wave to 4382.5. This is a local target. A corrective wave to 4296.0 is expected (with a test from above). Next, a rise to 4390.5 is expected, followed by a decline to 4110.0. This is the first target.