Technical Analysis & Forecast for September 19, 2023 – R Blog
EUR/USD (Euro vs US Dollar)
EUR/USD completed an upward wave to 1.0697. Currently, the market is consolidating below this level. The consolidation range could extend to 1.0700. Subsequently, a decline to 1.0655 might occur. If this level breaks, it could trigger a decline to 1.0608. Following this, an upward surge to 1.0760 is anticipated. This marks the initial correction target.
GBP/USD (Great Britain Pound vs US Dollar)
GBP/USD finished a downward wave to 1.2370, followed by a correction to 1.2409. Presently, the market is establishing a consolidation range below this level. An impending decline to 1.2364 is projected. The range might extend to 1.2340. Once this is reached, an upward surge to 1.2444 might materialize. This marks the first correction target.
USD/JPY (US Dollar vs Japanese Yen)
USD/JPY concluded an upward wave to 147.94 and a correction to 147.50. Today, a surge to 148.02 could develop. After reaching this level, a decline to 146.96 might follow. This represents the first correction target.
USD/CHF (US Dollar vs Swiss Franc)
USD/CHF completed an upward wave to 0.8981. Currently, a consolidation range is forming below this level. An anticipated decline to 0.8947 is on the horizon. Subsequently, a potential surge to 0.8982 might occur. Upon reaching this level, an anticipated decline is expected. This marks the first correction target.
AUD/USD (Australian Dollar vs US Dollar)
AUD/USD finished a wave of decline to 0.6417 and a correction to 0.6446. Today, the market is persisting in developing a wave of decline to 0.6417. If this level is breached, it could pave the way for a decline to 0.6388. Following this, a correction to 0.6410 (with a test from below) might unfold. Subsequently, a decline to 0.6362 may take place.
Brent completed a corrective wave to 92.15. Today, a surge to 96.30 could manifest. After reaching this level, the price might form a decline to 94.15 (with a test from above), followed by a rise to 97.11. This represents a local target. Additionally, a correction to 89.40 is plausible.
XAU/USD (Gold vs US Dollar)
Gold completed a fresh correction link to 1934.34. An impending decline to 1910.40 is anticipated today, after which the trend might persist to 1900.00.
The stock index concluded a decline impulse to 4444.0, succeeded by a correction to 4468.4. Currently, a consolidation range is forming below this level. An expected downward breakout to 4420.5 is projected. Once this level is reached, a correction link to 4468.4 could occur (with a test from below), followed by a decline to 4389.0. This signifies a local target.