Technical Analysis & Forecast November 07, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_23-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The Japanese Yen extends its gains, while this report also examines the Euro, British Pound, Swiss Franc, Australian Dollar, Brent, <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>, and the S&P 500.</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/EURUSDH1-3.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-18923" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption><a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> (Euro vs US Dollar)</figcaption></figure><p>The Euro has recently peaked at 1.0750 against the Dollar. A reversal is expected, possibly dipping to 1.0670 before a minor rally to 1.0715. Subsequent forecasts suggest a decline to 1.0660, potentially setting the stage for a further slide to the 1.0600 threshold.</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/GBPUSDH1-3.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-18924" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption><a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> (Great Britain Pound vs US Dollar)</figcaption></figure><p>The Pound's recent ascent peaked at 1.2424 against the Dollar. Current projections indicate a downward movement to 1.2252, followed by a modest recovery to 1.2333. A continued decrease to 1.2200 is on the horizon, with the possibility of an extended downtrend towards 1.2100.</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/USDJPYH1-3.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-18922" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption><a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">USD/JPY</a> (US Dollar vs Japanese Yen)</figcaption></figure><p>After a pullback to 149.16, the Dollar is poised to resume its climb against the Yen, with eyes on the 150.55 mark. Post-reach, a slight retreat to 149.85 is anticipated before another surge to 151.33, which could stretch to 152.20.</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/USDCHFH1-3.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-18921" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption><a href="https://roboforex.com/beginners/info/charts/forex/usdchf/" data-internallinksmanager029f6b8e52c="39" title="USD/CHF">USD/CHF</a> (US Dollar vs Swiss Franc)</figcaption></figure><p>The Dollar's correction against the Franc halted at 0.8955, with an upswing to 0.9010 currently forming. A brief correction to 0.8918 may precede a rebound to 0.9010, leading to an uptrend towards 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/AUDUSDH1-3.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-18920" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption><a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> (Australian Dollar vs US Dollar)</figcaption></figure><p>The Australian Dollar has wrapped up its upward pattern at 0.6520 against the Dollar. A downward wave to 0.6400 is forecasted, followed by a rise to 0.6464, and a subsequent drop to 0.6350, potentially continuing down to 0.6288.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-3.png" alt="BRENT" class="wp-image-18919" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>BRENT</figcaption></figure><p>Brent is undergoing a correction, aiming for the 84.22 mark. After reaching this point, an uptick to 87.60 is projected, before a pullback to 85.85. A bullish trend to 89.40 is expected, with the possibility of extending gains to 95.00.</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/XAUUSDH4-3.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-18918" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold concludes its correction at 2003.90. A downtrend to 1961.00 is anticipated, which could lead to a further slide to the 1920.70 mark.</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/US500CashH1-3.png" alt="S&P 500" class="wp-image-18917" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-3.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-3-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-3-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-3-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The index finished its upward wave at 4374.0. A trading range around this level is likely, followed by a rise to 4383.0, then a downturn to 4308.0. A rebound to 4343.0 may occur before a descent to the 4242.0 level.</p>
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