Technical Analysis & Forecast November 14, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_4-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>Brent's upward <a href="https://blog.roboforex.com/blog/2019/11/12/momentum-efficient-oscillator-or-trend-indicator/" data-internallinksmanager029f6b8e52c="96" title="Momentum">momentum</a> persists. The analysis also outlines 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/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 decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-8.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19039" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD is currently consolidating within the range of 1.0680. An extension to 1.0705 is plausible. Subsequently, a decline to 1.0640 may follow. A breakout below this level could lead to a drop to 1.0622, initiating a potential trend continuation to 1.0540, representing a local target.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-8.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19038" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has established a consolidation range around 1.2242. Breaking above, the pair extends correction to 1.2297. Post-correction, a decline to 1.2133 might commence, marking 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/USDJPYH1-8.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19037" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY completed a growth wave to 151.90 and a correction to 151.20. The market is currently in a rising movement to 151.95, potentially continuing to 152.69. After reaching this level, a corrective phase to 150.95 may ensue, followed by a rise to 153.07.</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/USDCHFH1-8.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19040" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH1-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is consolidating around 0.9017 without a strong trend. A potential extension to 0.9057 is possible today. A breakout upward may open the path for a rise to 0.9100, representing a local 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/AUDUSDH1-8.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19036" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has concluded a correction to 0.6390. Anticipate a new decline wave to 0.6332 today, with the potential for extension to 0.6311 as 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/BRENTH1-8.png" alt="BRENT" class="wp-image-19035" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>BRENT</figcaption></figure><p>Brent completed a growth wave to 82.15. Currently in a consolidation range, an upward breakout may lead to a rising wave to 84.10, and further to 86.05 as a local 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/XAUUSDH4-8.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19034" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is within a consolidation range around 1940.35. A potential extension to 1951.88 exists. Subsequently, a decline to 1924.00 may occur, continuing to 1910.90 as a local 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/US500CashH1-8.png" alt="S&P 500" class="wp-image-19033" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-8.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-8-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-8-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-8-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The stock index has formed a consolidation range around 4414.0. Potential extension to 4432.0 is on the horizon. After reaching this level, a declining wave to 4343.0 might commence, marking the first target.</p>
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