Technical Analysis & Forecast 26.10.2023
EURUSD, “Euro vs US Dollar”
EURUSD has completed a wave of decline to 1.0540. A decrease to 1.0533 might follow today. After the quotes reach this level, a link of correction to 1.0565 is not excluded (with a test from below). Next, a new wave of decline to 1.0480 is expected. This is the first target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed a wave of decline to 1.2077. A correction to 1.2121 could follow today. Next, the trend might continue to 1.2015. This is the first target.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed a rising impulse to 150.30 and a correction to 150.03. Today the market continues developing a wave of growth to 150.75. Next, a correction to 149.40 might follow.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF continues developing a wave of growth to 0.8986. After the price reaches this level, the quotes might correct to 0.8955 (with a test from above). Next, a link of growth to 0.9016 is expected. This is the first target.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed a wave of decline to 0.6272. A link of correction to 0.6333 is not excluded today. Next, a decline to 0.6266 is expected. This is the first target.
BRENT
Brent has completed a wave of decline to 85.85 and a correction to 89.30 (with a test from below). A new structure of decline to 85.55 might develop today. After the price reaches this level, a new wave of growth to 93.25 is expected, from where the trend could continue to 95.00.
XAUUSD, “Gold vs US Dollar”
Gold continues forming a consolidation range around 1975.00. Today the range might extend to 1996.25. Next, a decline to 1952.00 is expected. Should this level be also breached downwards as well, the potential for a decline to 1900.00 might open. This is the first target.
S&P 500
The stock index has completed a wave of decline to 4156.0. A link of correction to 4250.0 could follow today (with a test from below). After the correction is over, a decline to 4111.1 might happen. This is the first target.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.