Technical Analysis & Forecast 14.11.2023

EURUSD, “Euro vs US Dollar”

EURUSD continues developing a consolidation range around 1.0680. Extension of the range to 1.0705 is not excluded. Next, a decline to 1.0640 might follow. And with a breakout of this level, the pair might drop to 1.0622, from where the trend could continue to 1.0540. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed a consolidation range around 1.2242 and, escaping it upwards, the pair extends the correction to 1.2297. After the correction is over, a wave of decline to 1.2133 might begin. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a wave of growth to 151.90 and a correction to 151.20. Today the market is forming a rising movement to 151.95, from where the trend could continue to 152.69. After the price reaches this level, a link of correction to 150.95 might form. Next, a rise to 153.07 might follow.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues forming a consolidation range around 0.9017 without any strong trend. Extension of the range to 0.9057 is not excluded today. And with a breakout of this range upwards, the potential for a rising wave to 0.9100 might open. This is a local target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a link of correction to 0.6390. A new wave of decline to 0.6332 is expected to begin today, from where the trend might extend to 0.6311. This is a local target.

BRENT

Brent has completed a wave of growth to 82.15. A consolidation range has formed around this level today. With an escape from this range upwards, the potential for a rising wave to 84.10 might open, from where the trend could continue to 86.05. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has formed a consolidation range around 1940.35. Extension of the range to 1951.88 is not excluded. Next, a decline to 1924.00 might follow, from where the wave could continue to 1910.90. This is a local target.

S&P 500

The stock index has formed a consolidation range around 4414.0. Extension of the range to 4432.0 is not excluded. After the price reaches this level, a declining wave to 4343.0 might start. This is the first target.