Technical Analysis & Forecast 23.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD continues forming a consolidation range around 1.0570. A link of decline to 1.0550 is not excluded today. Next, the range could extend to 1.0620. A price decline to 1.0570 might follow.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues forming a consolidation range around 1.2151. A declining link to 1.2080 might follow today. Next, a rise to 1.2151 (with a test from below) and a decline to 1.2050 could be expected. The trend might later continue to 1.2000 from the 1.2050 level.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues forming a consolidation range around 149.75. An upward movement to 150.15 might form today. Next, a decline to 149.75 (with a test from above) and a rise to 150.75 could follow.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has formed a consolidation range around 0.8902. Today the market is exiting this range upwards. Practically, the potential for an upward movement to 0.8995 has opened. After the price reaches this level, a link of decline to 0.8870 is not excluded. Next, a rise to 0.9055 might follow. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues developing a consolidation range under 0.6319. A decline to 0.6280 might follow, from where the trend could extend to 0.6272. Next, a rise to 0.6333 might form.

BRENT

Brent continues forming a consolidation range around 90.70. A declining movement to 89.30 might follow today. Next, a rise to 93.33 is expected, from where the trend could extend to 95.00. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold is moving within a wave of decline to 1947.50. After the price reaches this level, it could correct to 1972.50. Next, a decline to 1893.80 is expected. This is the first target.

S&P 500

The stock index has extended a consolidation range to 4218.0. A link of growth to 4250.0 might follow today. Next, a decline to 4166.0 is expected. This is a local target. After the price reaches this level, a correction to 4250.0 might begin, followed by a drop to 4110.0.