Technical Analysis & Forecast 24.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has escaped a consolidation range upwards, reaching the local correction target of 1.0686. Today a declining movement to 1.0590 could form. After the price reaches this level, a new corrective movement to 1.0717 might follow. Next, a decline to 1.0400 by the trend is expected.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has escaped a consolidation range upwards, reaching the local correction target of 1.2273. A link of decline to 1.2182 might develop today. After the price reaches this level, a new link of growth to 1.2277 could form. Next, the trend might continue to 1.2080.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has formed a consolidation range around 149.65. A decline to 149.33 could follow today. Practically, this movement might be interpreted as a correction. After it is over, a wave of growth to 150.75 could begin.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has formed a consolidation range above 0.8902. Today the range might expand to 0.8890. After the price reaches this level, a wave of growth to 0.9080 could begin. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has expanded a consolidation range upwards to 0.6361. A decline to 0.6323 might follow today. And if this level also breaks downwards, the potential for a decline to 0.6272 could open.

BRENT

Brent has completed a wave of correction to 88.80. A consolidation range might form around this level today. The quotes could escape it upwards and form a wave of growth to 90.70. And if this level also breaks upwards, the potential for a rise to 93.25 could open, from where the trend might continue to 95.15. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed an impulse of decline to 1964.33 and a correction to 1982.77. A new declining impulse to 1947.95 might form today. This is the first target. After the price reaches this level, a correction to 1973.33 could form.

S&P 500

The stock index has corrected to 4254.9. Today the wave of decline might continue to 4166.0. This is a local target. After the price reaches this level, a correction to 4250.0 could start.