Technical Analysis & Forecast 14.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD continues developing a correction to 1.0777. After the quotes reach this level, they could drop to 1.0676. This is a local target. After the price hits it, a new wave of growth to 1.0900 could begin.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a wave of decline to 1.2431. Today the market is forming a corrective structure to 1.2533. After this level is reached, a decline to 1.2424 might follow, from where a new wave of growth to 1.2700 could start.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a wave of growth to 147.73. Today the market has started developing a new structure of decline to 146.55. A breakout of this level downwards could open the potential for a further correction to 145.30. When the correction is over, a new wave of growth to 149.44 is expected to start.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has exited a consolidation range upwards, completing a structure of an ascending wave to 0.8951. Today the market continues the wave of correction to 0.8888. After it is over, a new wave of growth to 0.8980 could begin. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues developing a wave of correction to 0.6462. After it is over, a new wave of decline to 0.6400 could start. If this level also breaks downwards, the potential for a decline by the trend to 0.6333 could open.

BRENT

Brent has completed a wave of growth to 92.35 and a correction to 91.20. Today the market continues rising to 92.55. After it reaches this level, a link of decline to 91.20 is not excluded. Next, a rise to 93.30 is expected, after which the trend could continue to 96.40. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1905.33 and a correction to 1915.77. Today the market continues declining to 1904.60. Next, a rise to 1908.66 might follow (with a test from below). Then the price could decline to 1901.33. And if this level also breaks downwards, the potential for a decline by the trend to 1864.00 might open. This is a local target.

S&P 500

S&P 500 has completed a wave of decline to 4451.5. Today the market has completed a wave of growth to 4486.0 (with a test from below). A consolidation range could form under this level. With an escape from the range downwards, the potential for a decline to 4444.0 might open. And if this level also breaks downwards, the trend could extend to 4416.6. This is a local target.