Technical Analysis & Forecast November 13, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_3-360×360.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/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a> Sees Continued Ascent. This analysis also encompasses the movements 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/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, <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 decoding="async" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-7.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19022" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD persists in the development of a consolidation range around 1.0675. An extension of the range to 1.0695 is plausible. Following this, a descent to 1.0630 might unfold. A downside breakout of this range is anticipated to propel the trend toward 1.0540. This represents a nearby 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/GBPUSDH1-7.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19021" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has concluded a downtrend wave at 1.2186. An upswing to 1.2247 is plausible. Subsequently, the trend might resume towards 1.2100. This is a local 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/USDJPYH1-7.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19020" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has completed an upward wave to 151.61. The market presently forms a consolidation range around this level. An upward breakout could sustain the growth wave to 152.35, extending further to 152.65. A downward breakout might result in a corrective phase to 150.96, followed by a rise to 152.65.</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/USDCHFH1-7.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19023" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF continues consolidating within the range around 0.9017. The range might extend to 0.9057 today. A breakout above this level could set the stage for an ascent to 0.9095. This is a nearby 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/AUDUSDH1-7.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19019" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD is in the process of developing a declining wave to 0.6333. Following this, an upswing to 0.6380 is plausible, possibly with a test from below. Subsequently, a descent to 0.6311 might follow. This represents a local 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/BRENTH1-7.png" alt="BRENT" class="wp-image-19018" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>BRENT</figcaption></figure><p>Brent has concluded an upward wave at 81.89. A correction to 80.33 is underway today. Following this correction, a new upward wave to 83.40 is anticipated, with the potential for the trend to extend to 84.60. This is the initial 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/XAUUSDH4-7.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19017" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold continues its descent wave to 1911.00. Following this, a correction to 1937.00 might commence, likely with a test from below. A subsequent downward wave to 1901.20 might ensue. This represents 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/US500CashH1-7.png" alt="S&P 500" class="wp-image-19016" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The stock index continues to configure a consolidation range around 4380.4. A potential drop to 4341.4 is foreseeable today. Following this, an upswing to 4380.4 is plausible, possibly with a test from below. Subsequently, a decline to 4301.0 is a local target.</p>
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