Technical Analysis & Forecast October 02, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_22-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The Australian dollar (<a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a>) is extending its decline, and this overview also covers 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>, 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" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-18264" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has completed a corrective movement to 1.0615. Today, the market is forming a downward link to 1.0535. Subsequently, an upward link to 1.0620 might follow. Once this level is reached, a correction to 1.0555 is anticipated. A broad consolidation range is forming around 1.0555. A breakout below this range might trigger a downward wave to 1.0434, while an upward breakout could lead to a surge to 1.0710.</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/2023/10/GBPUSDH1.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-18263" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has completed a upward movement to 1.2271. A decline to 1.2133 is expected, followed by a rise to 1.2288. Once the price reaches this level, a decline to 1.2199 might occur. A broad consolidation range is forming around 1.2199. A downward breakout from this range might initiate a declining wave to 1.2016, while an upward breakout could lead to an upswing to 1.2400.</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/2023/10/USDJPYH1.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-18262" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY continues its upward wave to 149.94. Next, a decline to 149.29 might follow. A consolidation range is forming around 149.29. A breakout to the upside could lead to a wave of growth to 150.70. Conversely, a downward breakout might result in a corrective movement to 147.30.</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/2023/10/USDCHFH1.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-18261" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF completed a corrective wave to 0.9090. Today, the market has formed an upward movement to 0.9153, with a consolidation range developing around this level. An upward link to 0.9200 is expected, followed by a decline to 0.9080. A broad consolidation range is forming around 0.9153. A downward breakout might extend the correction to 0.8939, whereas an upward breakout could prompt a corrective wave to 0.9286.</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/2023/10/AUDUSDH1.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-18260" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has completed a corrective wave to 0.6500. Today, the market is forming a downward wave to 0.6360. Subsequently, an upward link to 0.6512 and a decline to 0.6425 might follow. A broad consolidation range is forming around this level. An upward breakout could continue the rise to 0.6565, whereas a downward breakout might lead to a decline to 0.6300.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH4.png" alt="BRENT" class="wp-image-18259" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH4.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH4-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH4-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH4-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>BRENT</figcaption></figure><p>Brent is forming a consolidation range around 92.70. A decline to 90.00 is possible today. Subsequently, a rise to 96.96 is not excluded. If this level is also breached, the potential for a wave to 104.00 might open. This is 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/2023/10/XAUUSDH1.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-18258" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH1.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH1-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH1-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH1-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has completed a wave of decline to 1850.00. Today, the market is forming a consolidation range around this level. A downward breakout could initiate a decline to 1747.00, from where the <a title="<div class="wpg-tooltip-content"><p>A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.</p></div>" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a> might continue to 1715.90. This is 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/2023/10/US500CashH1.png" alt="S&P 500" class="wp-image-18257" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The stock index is continuing to form a consolidation range around 4290.0. An upward link to 4343.0 might follow today. Subsequently, a decline to 4228.0 is expected. This is a local target. Afterward, a rise to 4343.0 is not excluded.</p>
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