Technical Analysis & Forecast 15.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD completed correction and went on developing its wave of decline. By now, it has performed a link of decline to 1.0633. Today the market is forming a consolidation range above this level. The range is expected to extend to 1.0655 (with a test from below). Next, a decline to 1.0606 could follow, from where the wave might extend to 1.0588.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a wave of decline to 1.2396. Today the market is forming a correction structure to 1.2430 (with a test from below). After the price reaches this level, it could drop to 1.2386. Next, a new wave of growth to 1.2700 might begin.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming a consolidation range around the 147.40 level. At a certain moment, the range was extended downwards to 147.00 and upwards to 147.68. An escape from this range downwards could open the potential for a wave of decline to 146.30.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has escaped a consolidation range upwards, completing a structure of an ascending wave to 0.8969. Today the market continues a wave of correction to 0.8948 (with a test from above). After the correction is over, a new wave of growth to 0.8980 could start. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a link of growth to 0.6472. A wave extension to 0.6481 is not excluded, followed by a decline to 0.6333, from where the trend could continue to 0.6275.

BRENT

Brent has completed a wave of growth to 94.07. A consolidation range is expected to form under this level today. With an escape from the range downwards, a correction to 91.20 could start. After it is over, a wave of growth to 96.50 is expected to begin. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1901.40 and a correction to 1915.80. A consolidation range could form under this level today. With an escape from it downwards, the potential for a declining wave to 1887.00 might open.

S&P 500

The stock index has completed a wave of growth to 4520.0. A consolidation range could develop under this level today. An exit from the range downwards could open the potential for a declining wave to 4430.0, from where the trend could continue to 4400.0.