Technical Analysis & Forecast 19.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has rebounded from 1.0593, making a movement to 1.0522 within a declining wave. A consolidation range s forming above this level today. The quotes could escape the range downwards, reaching 1.0502. Next, a link of correction to 1.0540 (with a test from below) and a decline to 1.0484 could follow.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has rebounded from 1.2202 and continues developing a wave of decline to 1.2112. Upon reaching this level, the quotes might consolidate around this level. With an escape upwards, a link of correction to 1.2166 (with a test from below) and a decline to 1.2048 could follow.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues forming a consolidation range around 149.75. With an escape from the range upwards, the potential for a wave of growth to 150.13 could open. With an escape downwards, a link of correction to 149.00 is not excluded, followed by a rise to 150.75.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a movement to 0.8953 within a declining wave. Today the market has made a link of correction to 0.8989 (with a test from below). A new declining movement to 0.8950 might form. Upon reaching this level, the price could start a wave of growth 0.9033.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues developing a declining movement to 0.6272. After this level is reached, a link of correction to 0.6358 is not excluded, followed by a decline to 0.6200.

BRENT

Brent continues forming a consolidation range above 89.70. With an escape upwards, the potential for a wave to 92.92 might open. With an escape downwards, a link of correction to 87.60 is not excluded, followed by a rise to 95.00.

XAUUSD, “Gold vs US Dollar”

Gold continues forming a consolidation range above 1938.15. With an escape downwards, a declining wave to 1869.60 could start. This is the first target. Next, a link of growth to 1915.50 and a decline to 1822.22 might follow, from where the trend could continue to 1792.00.

S&P 500

The stock index has completed a wave of decline to 4301.3. A consolidation range might develop around this level today. With an escape upwards, a link of correction to 4347.0 is not excluded (with a test from below). Next, a decline to 4255.5 could follow. This is a local target.