Technical Analysis & Forecast November 22, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_10-360×360.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/forex/usdchf/" data-internallinksmanager029f6b8e52c="39" title="USD/CHF">CHF</a> Poised for a Potential New Low. This overview encompasses 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/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&amp;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/EURUSDH1-13.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19176" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-13.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-13-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-13-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/EURUSDH1-13-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD is currently shaping a downward wave, targeting 1.0894 today. Following this level, a potential upward move to 1.0929 could unfold within a wide consolidation range. The market might attempt to expand the range to 1.0990 before retracing to its lower boundary at 1.0824. This sets the stage for the initial 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/GBPUSDH1-14.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19175" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-14.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-14-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/GBPUSDH1-14-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has expanded its consolidation range to 1.2555. Today, a decline to 1.2480 is anticipated, followed by a potential upswing to 1.2582. Upon reaching this level, a downward wave to 1.2374 might initiate, representing 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/USDJPYH1-14.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19174" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-14.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-14-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDJPYH1-14-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY is progressing within an ascending wave towards 148.67. Subsequently, the quotes may dip to 148.02 before rebounding to 148.88, constituting the initial target. Following this, a corrective phase is expected, paving the way for an ascent to 150.40, marking a local target.</p>

<div>
<div>
<div>
<p><span>1,000,000 USD</span> RoboForex partner promotion!</p>
<p>Learn more about the participation conditions and join the cash prize draws</p>
</div>
<div>
<img decoding="async" class="block-banner__image block-banner__image_mobile" src="https://blog.roboforex.com/wp-content/uploads/2023/09/r-mobile.png" alt="partner-promotion" /></div>
<a href="https://roboforex.com/clients/promotions/partners-promo-2023/" target="_blank" rel="noopener">Join and Win</a>
</div>
<div>
<img decoding="async" class="block-banner__image block-banner__image_desktop" src="https://blog.roboforex.com/wp-content/uploads/2023/09/r-desktop.png" alt="partner-promotion" /></div>
</div>

<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/USDCHFH4-5.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19173" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4-5.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4-5-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4-5-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/USDCHFH4-5-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has extended its consolidation range to the downside, reaching 0.8819. Anticipate an upswing to 0.8855 today, with the possibility of another downward link to 0.8811. Upon reaching this level, a growth wave to 0.8910 could commence, presenting 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/AUDUSDH1-14.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19172" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-14.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-14-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/AUDUSDH1-14-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD is tracing a descent to 0.6530, followed by a potential surge surpassing the current peak of 0.6609. After reaching this level, a new downward wave to 0.6530 is expected. A break below this level opens the potential for a decline to 0.6450, signifying the initial 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/BRENTH1-14.png" alt="BRENT" class="wp-image-19171" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-14.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-14-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/BRENTH1-14-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>BRENT</figcaption></figure><p>Brent has undergone a correction to 81.41. Today, the market is generating an upward wave to 83.33, with further <a href="https://blog.roboforex.com/blog/2019/11/12/momentum-efficient-oscillator-or-trend-indicator/" data-internallinksmanager029f6b8e52c="96" title="Momentum">momentum</a> to 84.84 expected. This marks the first target. Another correction to 80.75 is plausible. After this correction concludes, a fresh upward wave to 87.77 might commence, representing 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/XAUUSDH4-14.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19170" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-14.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-14-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/XAUUSDH4-14-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is ensconced in a broad consolidation range around 1970.00, recently expanding upwards to 2007.55. Today, a descent to 1970.00 is projected, followed by another upward move to 2012.00. Post this peak, a new downward wave to 1929.00 is envisaged, signifying the initial 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/US500CashH1-14.png" alt="S&amp;P 500" class="wp-image-19169" srcset="https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-14.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-14-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/11/US500CashH1-14-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>S&amp;P 500</figcaption></figure><p>The stock index has reached the extension target within the range at 4559.4. Today, a descent to 4522.3 is in progress. Expect a rebound to 4541.0 (a test from below). A wide range is forming around 4541.0, with another upswing to 4560.0 plausible. Following this, a new downward wave to 4487.0 might commence, marking the initial target.</p>

<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2023/11/22/technical-analysis-forecast-november-22-2023/">Technical Analysis &amp; Forecast November 22, 2023</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>