Technical Analysis & Forecast 21.11.2023

EURUSD, “Euro vs US Dollar”

EURUSD has practically exhausted the potential for a growth wave at the 1.0964 level. A new consolidation range is expected to form around this level. With an escape from the range downwards, a decline wave to 1.0894 is expected to form. With a breakout of this level as well, the potential for a decline by the trend to 1.0823 could open. This is the first target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD today has practically exhausted the potential of a growth wave to 1.2538. A new consolidation range is expected to form around this level. With an escape downwards, a decline wave to 1.2455 could begin. And if this level also breaks, the potential for a wave down by the trend to 1.2374 might open. This is the first target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a decline wave to 147.37. A new consolidation range is expected to form around this level today. With an escape from the range upwards, a new growth wave to 148.70 could start. Next, a decline to 148.00 might follow. After that a rise to 149.40 is expected, from where the trend could continue to 150.05. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues developing a consolidation range above 0.8826. A link of decline to 0.8808 is not excluded. Next, a rise to the 0.8900 level might follow, from where the trend could continue to 0.9010. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has exhausted the potential for a rise wave at the 0.6583 level. A consolidation range could form around this level today. With an escape downwards, a new decline wave to 0.6506 might form. This is the first target.

BRENT

Brent continues developing a rise wave to 83.33. Upon reaching this level, the price might correct to 80.75. Once the correction is over, a new growth movement to 84.84 could follow. This is the first target.

XAUUSD, “Gold vs US Dollar”

Gold continues forming a consolidation range around 1987.00. Today the market has extended the range upwards to 1994.22. A decline to 1969.00 is expected. With a breakout of this level downwards, the potential for a decline wave to 1917.90 might open. This is the first target.

S&P 500

The stock index has extended a range to 4558.5. A decline to 4522.0 might follow today. With a breakout of this level downwards, the potential for a wave to 4487.7 might open. This is the first target. Next, a correction link to 4522.0 might follow (a test from below).