Technical Analysis & Forecast 12.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has corrected to 1.0767. Today the market continues to decline to 1.0723. With a downward breakout of this level, the price is expected to drop to 1.0697 and then rise to 1.0723 (a test from below). A decline to 1.0680 could follow next. This is a local target. Once the price hits this level, a wave of growth to 1.0900 could start.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a correction at 1.2546. Today a wave of decline to 1.2486 could follow. A downward breakout of this level will open the potential for a movement to 1.2453, followed by growth to 1.2486 (a test from below). Afterwards, the price is expected to fall to 1.2425. This is a local target. After the price reaches this level, a wave of growth to 1.2700 is expected to start.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a wave of decline to 145.92 and a correction to 146.97. Next, another structure of decline to 145.27 could develop. After hitting this level, the price could start rising to 148.70.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues to form a consolidation range around 0.8917 without any strong trend. Today the range is expected to extend to 0.8888 (a test from above). After reaching this level, the price could rise to 0.8990. A wave of decline to 0.8800 could follow next.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a corrective wave at 0.6448. A decline to 0.6390 could follow today. A downward breakout of this level will open the potential for a movement to 0.6363, which could be followed by growth to 0.6390 (a test from below). Then the price could fall to 0.6333.

BRENT

Brent has completed a wave of growth to 91.08 and a correction to 90.00. Today a link of growth to 92.20 could form, followed by a correction to 91.10 (a test from above). Afterwards, the price could rise to 93.20. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a corrective wave at 1930.18. Today the market continues to develop a downward movement to 1915.35. Growth to 1922.72 is expected next (a test from below), followed by a drop to 1913.60 with the trend potentially continuing to 1870.00.

S&P 500

The stock index has completed a corrective wave at 4496.7. Today a consolidation range is expected to form below this level. A downward breakout will open the potential for a decline to 4433.0, from where the trend could continue to 4414.4.