Technical Analysis & Forecast November 09, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_1-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The price of <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">gold</a> continues to drop. In addition, we will also take a look at the current trends for the <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a>, <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP</a>, <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a>, <a href="https://roboforex.com/beginners/info/charts/forex/usdchf/" data-internallinksmanager029f6b8e52c="39" title="USD/CHF">CHF</a>, <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a>, Brent, and the S&P 500 index.</p>
<h2>EUR/USD (Euro vs US Dollar)</h2>
<figure><img decoding="async" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-5.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-18970" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>The EUR/USD pair has completed a downward movement, reaching a low of 1.0658 before correcting to 1.0714 today. There is a possibility of a further correction to 1.0725. However, if the pair breaks below the level of 1.0630, we can expect a potential decline to 1.0540, which is our current target.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-5.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-18969" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>The GBP/USD pair has also experienced a downward movement, reaching a low of 1.2245 before correcting to 1.2300 today. We can expect a new upward movement to 1.2333 before another wave of decline to 1.2222. If the pair breaks below this level, we can anticipate a potential decline to 1.2073, our current target.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-5.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-18968" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>The USD/JPY pair has completed an upward movement to 151.04 and is currently correcting to 150.05. We can expect another upward movement to 151.44, which could potentially lead to a rise to 152.15 once the level of 151.44 is broken.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-5.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-18971" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>The USD/CHF pair has reached a high of 0.9030 before correcting to 0.8970 today. A consolidation range is forming between these levels and a break below this range could lead to a decline to 0.8918. On the other hand, a break above this range could potentially lead to a rise to 0.9133.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-5.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-18967" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>The AUD/USD pair is currently in a downward movement to 0.6383. We can expect a correction to 0.6450 before another decline to 0.6333, which is our current target.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-5.png" alt="BRENT" class="wp-image-18966" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>BRENT</figcaption></figure><p>The price of Brent has completed a downward movement to 79.11. However, the potential for further decline has expired and a consolidation range could form above this level today. If the price breaks above this range, we can anticipate a rise to 85.75, our first target.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-5.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-18965" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is currently in a consolidation range around 1961.55. If the price breaks below this range, we can expect a potential decline to 1920.00, followed by a correction to 1960.00 before another decline to 1913.50, our first target.</p>
<h2>S&P 500</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-5.png" alt="S&P 500" class="wp-image-18964" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-5.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-5-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-5-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-5-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The S&P 500 index has completed a downward movement to 4362.2 before correcting to 4390.0 today. We can expect another decline to 4330.3 before the trend continues to 4242.0, our first target.</p>
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