Technical Analysis & Forecast 13.12.2023
EURUSD, “Euro vs US Dollar”
EURUSD has escaped a consolidation range upwards, finishing a growth wave at 1.0826. Next, the price completed a decline impulse to 1.0766. Today the market is forming a new consolidation range around 1.0788. With an escape upwards, the correction could continue to 1.0844. With an escape downwards, the potential for a decline wave to 1.0740 might open, from where the trend could extend to 1.0626. This is a local target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD escaped a consolidation range upwards and reached the correction wave target at 1.2614. Next, the market performed a decline impulse at 1.2514. Today the quotes are expected to consolidate around 1.2555. With an upward escape, a growth link to 1.2615 is not excluded. With a downward escape, the potential for a decline wave to 1.2470 might open.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed a correction structure to 144.73. Today the market might continue correcting to 144.48 (a test from above). After the correction is over, a growth structure to 147.40 is expected. This is the first target.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has completed a correction to 0.8722. Today this correction could extend to 0.8715. After the correction is over, a growth wave to 0.8880 might follow. This is the first target.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed a decline impulse to 0.6539. Today the market is forming a consolidation range around 0.6555. With a downward escape, the potential for a decline to 0.6500 might open. Next, a growth link to 0.6555 is not excluded (a test from blow), followed by a decrease to 0.6490. This is the first target.
BRENT
Brent has formed a consolidation range around 73.40. Today the market might perform a downward escape from the range, so that the wave might extend to 70.40. After the price reaches this level, a new growth wave to 76.50 could develop, from where the trend could extend to 80.40. This is the first target.
XAUUSD, “Gold vs US Dollar”
Gold has completed a correction wave to 1995.45 (a test from below). Today a decline structure might continue developing to 1952.42, from where the trend could extend to 1907.55. This is the first target.
S&P 500
The stock index has corrected to 4612.2 (a test from above). A growth link to 4656.0 has been performed today. A decline link to 4638.8 is not excluded. Next, the quotes might rise to 4663.9. This is a local target. Note that the whole growth structure is interpreted as the growth wave extension. At any moment, the market might start a steep decline to 4545. 0.
