Technical Analysis & Forecast 20.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has escaped a consolidation range upwards, completing a new wave of correction to 1.0650. A structure of decline to 1.0530 is forming today. After the price reaches this level, a link of growth to 1.0577 is not excluded (with a test from below). Next, a decline to 1.0520 might follow, from where the trend could continue to 1.0485.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues developing a declining wave to 1.2081. After the price reaches this level, a link of growth to 1.2215 is not excluded, followed by a decline to 1.2048.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues developing a wave of growth to 150.13. After the price reaches this level, a link of decline to 149.74 is not excluded, followed by a rise to 150.75.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a movement within a declining wave to 0.8908. A link of growth to 0.8980 might follow. Next, a decline to 0.8888 and a rise to 0.9054 could form.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues developing a declining movement to 0.6279. After the price reaches this level, a link of correction to 0.6317 is not excluded, followed by a decline to 0.6272.

BRENT

Brent continues developing a wave of growth to 92.92. After the price reaches this level, a link of correction to 90.77 is not excluded. Next, a rise to 95.00 might follow, from where the trend could continue to 97.00.

XAUUSD, “Gold vs US Dollar”

Gold continues developing a wave of growth to 1987.22. After the price reaches this level, a new declining wave to 1898.00 could follow. Next, a wave of growth to 1939.20 is expected.

S&P 500

The stock index has completed a declining wave to 4263.3. Today the market is forming a consolidation range above this level. A link of correction to 4300.0 is not excluded (with a test from below). Next, a decline to 4212.5 could follow.