Technical Analysis & Forecast 22.11.2023

EURUSD, “Euro vs US Dollar”

EURUSD is forming a movement to 1.0894 inside a decline wave today. Upon reaching this level, the pair could form a growth link to 1.0929. Practically, a wide consolidation range is emerging around this level. The market could try to extend the range to 1.0990. Next, the quotes might drop to its lower boundary at 1.0824. This is the first target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has extended a consolidation range to 1.2555. Today the pound is expected to drop to 1.2480. Next, a new growth movement to 1.2582 could develop. Once this level is reached, the price might begin a decline wave to 1.2374. This is the first target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is making a movement to 148.67 within a growth wave. Next, the quotes might drop to 148.02 and rise to 148.88. This is the first target. After that, a corrective link is expected. After the correction is over, a rise to 150.40 might begin. This is a local target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has extended the consolidation range downwards to 0.8819. A growth link to 0.8855 is expected today. Another decline link to 0.8811 is not excluded. Upon reaching this level, a growth wave to 0.8910 could begin. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming a decline movement to 0.6530. Next, a new high could be set above the current peak of 0.6609. After this level is reached, a new decline wave to 0.6530 is expected. And if this level also breaks downwards, the potential for a decline wave to 0.6450 could open. This is the first target.

BRENT

Brent has corrected to 81.41. Today the market is developing a growth wave to 83.33, from where the trend might continue to 84.84. This is the first target. Next, a correction to 80.75 is not excluded. After the correction is over, a new growth wave to 87.77 might begin. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold continues forming a wide consolidation range around 1970.00. At a certain moment, the market extended the range upwards to 2007.55. A decline to 1970.00 is expected today. Next, another growth movement to 2012.00 might follow. After the price reaches this level, a new decline wave to 1929.00 might begin. This is the first target.

S&P 500

The stock index has reached a range extension target at 4559.4. A decline movement to 4522.3 is forming today. Next, a growth link to 4541.0 is expected (a test from below). Practically, a wide range is forming around 4541.0. Another growth link to 4560.0 is not excluded. Next, a new decline wave to 4487.0 could begin. This is the first target.