Technical Analysis & Forecast 18.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a declining wave to 1.0631. By now, it has performed a link of growth to 1.0686. A decline to 1.0648 is expected today. Practically, a consolidation range is forming around this level. The range might then extend to 1.0700. Next, the price could drop to 1.0608 and perform an impulse of growth to 1.0760. This is the first target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a wave of decline to 1.2379. Today the market is forming a consolidation range above this level. A link of growth to 1.2404 is expected. Practically, a consolidation range is forming around this level. It might later extend downwards to 1.2365. After the price hits this level, an impulse of growth to 1.2444 might develop. This is the first target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a wave of growth to 147.94. Next, a decline to 147.51 and a link of growth to 147.99 could form. After the quotes reach this level, an impulse of decline to 146.95 might follow. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a wave of growth to 0.8976. Today the market is forming a consolidation range under this level. A link of decline to 0.8947 is expected, followed by a link of growth to 0.8980. Upon reaching this level, the price could form a declining impulse to 0.8888. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a link of growth to 0.6472. A wave of decline to 0.6420 could form today. After that a link of correction to 0.6446 and a decline to 0.6393 are expected. The latter is a local target.

BRENT

Brent has completed a wave of correction to 92.15, and today it could extend to 96.30. Upon reaching this level, the price might form a link of decline to 94.15. Next, a rise to 97.15 could follow. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has formed a consolidation range around 1917.15 and might escape it upwards, extending its correction to 1933.00. After the price reaches this level, a link of growth to 1901.33 is expected. This is a local target.

S&P 500

The stock index has completed an impulse of decline to 4449.0. Today the market is forming a consolidation range above this level. An escape downwards to 4416.5 is expected. Upon reaching this level, the price could develop a link of correction to 4468.4 (with a test from below). Next, a decline to 4389.0 is expected. This is a local target.