Technical Analysis & Forecast November 24, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_12-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis &amp; Forecast" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a> Consolidates Ahead of Decline. The following also outlines 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>, Brent, and the S&amp;P 500 index.</p>

<h2>EUR/USD (Euro vs US Dollar)</h2>

<figure><img decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-15.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19215" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-15.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-15-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-15-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD concluded a corrective wave at 1.0929. Today, a downward trend to 1.0880 is emerging, forming a consolidation range around this level. A breakout downward could extend the decline to 1.0840, and if breached, open the potential for a wave to 1.0750. This is a local target.</p>

<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>

<figure><img decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-16.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19216" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-16.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-16-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-16-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-16-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD is in the process of forming an extensive consolidation range around 1.2505, currently extending to 1.2560. A downward structure is shaping up towards 1.2505. If the range breaks downward, the wave might continue to 1.2456. This is the first 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/USDJPYH1-16.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19217" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-16.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-16-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-16-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-16-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY is forming a consolidation range around 149.30. An escape downward may lead to a corrective link to 148.56, followed by a rise to 149.90. If there's a breakout upward, the potential for a wave to 151.15 might open. 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/USDCHFH1-10.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19218" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-10.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-10-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-10-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-10-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is consolidating around 0.8841 without a clear trend. A decline to 0.8810 is plausible. Upon reaching this level, a new growth wave to 0.8868 is anticipated. This is the first 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/AUDUSDH1-16.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19219" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-16.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-16-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-16-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-16-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD is within a consolidation range around 0.6547. An expected decline to 0.6500 might occur today. If this level is breached, the potential for a wave to 0.6430 could open. 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/BRENTH1-16.png" alt="BRENT" class="wp-image-19220" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-16.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-16-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-16-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-16-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>BRENT</figcaption></figure><p>Brent is forming a consolidation range around 81.10. A potential upward trend to 83.33 might follow. If this range is broken upwards, the wave could extend to 88.10. This is a local 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/XAUUSDH4-16.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19221" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-16.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-16-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-16-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-16-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is continuing to form a wide consolidation range around 1970.70, extending at one point to 2007.20. A decline structure to 1970.70 is forming today. Another potential growth link to 2012.60 is not excluded. Following this, a decline wave to 1930.00 might begin. This is the first target.</p>

<h2>S&amp;P 500</h2>

<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-16.png" alt="S&amp;P 500" class="wp-image-19222" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-16.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-16-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-16-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-16-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>S&amp;P 500</figcaption></figure><p>The stock index is in the process of developing a consolidation range around 4530.0. An upward link to 4571.0 is plausible today. A subsequent new decline wave to 4487.0 might commence. This is the first target.</p>

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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2023/11/24/technical-analysis-forecast-november-24-2023/">Technical Analysis &amp; Forecast November 24, 2023</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>