Technical Analysis & Forecast 20.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a wave of growth to 1.0716. Today the market is forming a wave of decline to 1.0660. After the price reaches this level, a link of correction to 1.0690 could follow. Next, a decline to 1.0635 might develop, from where the trend could continue to 1.0606.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a wave of decline to 1.2369 and a correction to 1.2423. Today the market is forming a consolidation range under this level. The range might extend to 1.2440 later. Upon reaching this level, the wave might develop to 1.2333.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY received support at 147.50 and continues developing a structure of growth to 148.01. After the price reaches this level, a correction to 146.96 could begin.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues developing a consolidation range above 0.8949. A link of growth to 0.8989 could follow today. With an escape from this range upwards, the potential for a wave to 0.9030 could open. With an escape downwards, a link of correction to 0.8888 is not excluded.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues developing a consolidation range around 0.6446. By now, it has extended to 0.6472. Today the quotes might drop to 0.6417. With an escape from the range downwards, the potential for a new declining wave to 0.6363 might open. This is the first target.

BRENT

Brent has completed a wave of growth to 94.86. A link of correction to 91.91 is expected today, possibly followed by a rise to 97.07, from where the trend could continue to 103.75. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold is forming a wave of decline to 1923.60, after which a correction to 1930.30 could follow (with a test from below). Next, a decline to 1901.33 is expected, from where the trend could continue to 1900.00.

S&P 500

The stock index has completed a structure of decline to 4419.1 and a correction to 4453.0. Today the wave of decline might continue to 4413.4. Next, a link of growth to 4468.3 and a decline to 4353.0 are expected. This is the first target.