Technical Analysis & Forecast November 23, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_11-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>Brent is in a consolidation phase before an upward move. The overview also covers the dynamics 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>, <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>, and the S&P 500 index.</p>
<h2>EUR/USD (Euro vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-14.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19190" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-14.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-14-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-14-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has concluded a downtrend, reaching 1.0852. Today, an upward move to 1.0918 is underway. A broad consolidation range may form around 1.0918. If this range is breached downward, the pair could extend its descent to 1.0761. This is a local target.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-15.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19191" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-15.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-15-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-15-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has completed a downward phase to 1.2449. Today, an upswing to 1.2522 is anticipated. A wide consolidation range might shape around 1.2522. If broken downward, the price is projected to descend to 1.2380. This is a local target.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-15.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19192" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-15.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-15-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-15-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has finished an upward surge, reaching 149.74. A corrective phase to 148.56 is developing today. Following the correction, the price could ascend to 149.90. This is a local target.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-9.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19193" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-9.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-9-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-9-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-9-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is presently consolidating around 0.8841. A decline to 0.8810 might occur today. After reaching this level, a new upward move to 0.8899 could initiate. This is the initial target.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-15.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19194" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-15.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-15-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-15-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD concluded a downward motion to 0.6520. Today, the market is correcting to 0.6560. A broad consolidation range is likely forming around 0.6560. If broken downward, the decline could persist to 0.6440. This is a local target.</p>
<h2>BRENT</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-15.png" alt="BRENT" class="wp-image-19195" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-15.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-15-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-15-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>BRENT</figcaption></figure><p>Brent has corrected to 78.60. Today, the market is continuing an upward structure to 83.33, from where the trend might extend to 88.10. This is a local target. Subsequently, a correction to 83.33 might follow. After the correction, a new upward move to 89.89 might commence. This is the first target.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-15.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19196" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-15.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-15-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-15-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is maintaining a broad consolidation range around 1970.00. Today, a decline to 1970.00 (a test from above) is expected. Next, another upswing to 2012.00 could manifest. After reaching this level, a new downward wave to 1929.00 might start. This is the initial target.</p>
<h2>S&P 500</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-15.png" alt="S&P 500" class="wp-image-19197" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-15.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-15-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-15-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>S&P 500</figcaption></figure><p>The stock index is currently in a consolidation phase around 4545.0. An upward move to 4571.0 is plausible today, followed by a new downward wave to 4487.0. This is the first target.</p>
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