Technical Analysis & Forecast 17.11.2023
EURUSD, “Euro vs US Dollar”
EURUSD continues developing a consolidation range around 1.0855. The market has just extended the range to 1.0894. Today the range could drop to 1.0813. Next, a link of growth to 1.0855 could follow (with a test from below). Next, a decline to 1.0787 might form. This is a local target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has performed a corrective wave to 1.2454. A decline to 1.2376 might follow. And with a downward breakout of this level, the potential for a decline wave to 1.2294 might form. This is a local target.
USDJPY, “US Dollar vs Japanese Yen”
The USDJPY pair continues developing a consolidation range around 150.77. A decline to 150.15 is not excluded. Next, a ink of growth to 152.90 could begin. This is a local target.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF continues developing a consolidation range around 0.8880. A link of growth to 0.8952 could form today, from where the trend might continue to 0.9012.
AUDUSD, “Australian Dollar vs US Dollar”
The AUDUSD pair continues developing a decline wave to 0.6444. This is the first target. After the price reaches this level, a link of correction to 0.6494 is not excluded, followed by a decline to 0.6340.
BRENT
Brent continues developing a correction. It has just completed a declining structure to 76.66. A consolidation range might form around this level today. With an escape from the range upwards, a new wave of growth to 84.10 could begin. This is the first target.
XAUUSD, “Gold vs US Dollar”
Gold has formed a consolidation range around 1955.30. With an escape from the range upwards, the correction could continue to 1988.74. After it is over, a new decline wave to 1918.20 could start. This is a local target.
S&P 500
The stock index continues forming a consolidation range around 4510.0. The range might then extend to 4532.3, after which the quotes might drop to 4532.3. With a breakout of this level downwards, the potential for a wave to 4450.0 might open. This is a local target.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.