Technical Analysis & Forecast 23.11.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline wave, reaching 1.0852. Today a link of growth to 1.0918 is forming. Practically, a wide consolidation range could form around 1.0918. With a downward breakout of this range, the pair might continue its downward movement to 1.0761. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a decline wave to 1.2449. Today a link of growth to 1.2522 is expected to form. Practically, a wide consolidation range could form around 1.2522. Breaking it downwards, the price is expected to fall to 1.2380. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a growth wave, reaching 149.74. A link of correction to 148.56 is forming today. After the correction is over, the price might rise to 149.90. This is a local target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is currently in a consolidation phase around 0.8841. A decline to 0.8810 could follow today. After the price reaches this level, a new growth wave to 0.8899 could start. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD completed a downward movement to 0.6520. Today the market is correcting to 0.6560. Practically, a wide consolidation range is forming around 0.6560. With a downward breakout, the decline wave might continue to 0.6440. This is a local target.

BRENT

Brent has corrected to 78.60. Today the market continues to develop a structure of growth to 83.33, from where the trend could continue to 88.10. This is a local target. Afterwards, a correction to 83.33 could follow. Once the correction is over, a new growth wave to 89.89 might start. This is the first target.

XAUUSD, “Gold vs US Dollar”

Gold continues to form a wide consolidation range around 1970.00. Today a decline to 1970.00 (a test from above) is expected. Next, another link of growth to 2012.00 could form. After the price hits this level, a new decline wave to 1929.00 could start. This is the first target.

S&P 500

The stock index is currently in a consolidation phase around 4545.0. A link of growth to 4571.0 is not excluded today, followed by a new decline wave to 4487.0. This is the first target.