Technical Analysis & Forecast November 15, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_5-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a> is preparing for another downward wave. This analysis also encompasses the performance of <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/EURUSDH4.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19062" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH4.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH4-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH4-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH4-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has established an extensive consolidation range around 1.0680. In response to recent developments, the market broke above this range, achieving a local correction target of 1.0886. Today, there's an expectation of a consolidation range forming below this level. If the range is breached downward, the price might initiate a downward movement, targeting a minimum of 1.0755. At the maximum, it could descend to 1.0680 (testing from above). Subsequently, another growth structure aiming for 1.0915 could evolve.</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/GBPUSDH1-9.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19061" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-9.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-9-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-9-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-9-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has shaped a consolidation range around 1.2291 and, breaking above it, reached the growth target of 1.2503. Today, the market is establishing a consolidation range below this level. A downward breakout is anticipated, continuing the downward <a href="https://blog.roboforex.com/blog/2019/11/12/momentum-efficient-oscillator-or-trend-indicator/" data-internallinksmanager029f6b8e52c="96" title="Momentum">momentum</a> to 1.2291.</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/USDJPYH1-9.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19060" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-9.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-9-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-9-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-9-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has completed a decline wave, reaching 150.15. Today, an upward link to 150.95 is expected (testing from below). Following this, another decline wave to 150.00 might develop, succeeded by growth to 152.07.</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/USDCHFH4.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19059" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has concluded a decline wave, reaching 0.8880. Today, the market is forming a consolidation range around this level. The expectation is for the price to break the range upwards, continuing its upward trajectory to 0.9013. This marks the first target.</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/AUDUSDH1-9.png" alt="AUDUSD, “Australian Dollar vs US Dollar”" class="wp-image-19058" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-9.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-9-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-9-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-9-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD, “Australian Dollar vs US Dollar”</figcaption></figure><p>AUD/USD has completed an upward link to 0.6511. Today, a downward wave targeting 0.6435 is expected to commence. Subsequently, upward momentum to 0.6537 could unfold.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-9.png" alt="BRENT" class="wp-image-19057" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-9.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-9-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-9-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-9-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>BRENT</figcaption></figure><p>Brent has finished a growth wave, reaching 83.71, and corrected today to 82.00. Next, a new growth wave to 84.92 could commence. This marks the first target. After reaching this level, a decline to 83.33 could follow, succeeded by a rise to 87.00.</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/XAUUSDH4-9.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19056" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-9.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-9-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-9-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-9-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has corrected to 1970.90. Today, a consolidation range is expected to form below this level. With a downward breakout, a new decline wave targeting 1922.75 might commence. This marks the 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/US500CashH1-9.png" alt="S&P 500" class="wp-image-19055" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-9.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-9-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-9-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-9-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The stock index has established a consolidation range around 4410.0. Breaking it upwards, the price rose to 4510.0. Today, the market is establishing a consolidation range below this level. The price could decline to 4410.0. This is the first target.</p>
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