Technical Analysis & Forecast October 25, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_15-360×360.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 (<a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a>) could sustain its upward <a title="<div class="wpg-tooltip-content"><p>Momentum is an indicator of the speed and direction of price change over a specific time frame.</p></div>" href="https://blog.roboforex.com/glossary-terms/momentum/">momentum</a>, while we also explore the movements of the <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" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-17.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-18716" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-17.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-17-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-17-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-17-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD recently concluded a decline, reaching 1.0582. A corrective move to 1.0636 could occur today, as a consolidation range emerges. An escape from this range downwards might lead to a downward wave to 1.0520. Conversely, an upward breakout could extend the growth wave to 1.0712, followed by a decline to 1.0466.</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/GBPUSDH1-17.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-18717" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-17.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-17-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-17-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-17-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD completed a downward wave to 1.2153. Today, a correction to 1.2178 is expected before 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> continues to 1.2072.</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/USDJPYH1-17.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-18718" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-17.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-17-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-17-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-17-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY experienced a growth impulse to 149.92 and might correct to 149.64 today. The growth wave could then extend to 150.40, with the trend continuing to 150.75.</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/USDCHFH1-14.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-18719" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1-14.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1-14-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1-14-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFH1-14-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF saw an impulse of growth to 0.8950. A correction to 0.8916 is expected today, with the potential for a growth wave extending to 0.8987. The trend might further extend to 0.9016.</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/AUDUSDH1-17.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-18720" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-17.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-17-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-17-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-17-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD extended a growth wave to 0.6389. A decline to 0.6327 is expected today, followed by a corrective move to 0.6363. Afterward, a decline to 0.6272 is anticipated.</p>
<h2>Brent</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-10.png" alt="Brent" class="wp-image-18721" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-10.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-10-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-10-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-10-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>Brent</figcaption></figure><p>Brent has formed a consolidation range around 88.98 and is currently correcting towards 85.50, with a downward breakout. After the correction concludes, a new growth wave to 93.25 may initiate, and the trend could further reach 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/2023/10/XAUUSDH4-7.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-18722" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold completed a downward impulse to 1953.15 and a correction to 1977.50. A new downward impulse to 1939.95 is expected, with this being the initial target. Following this, a correction to 1968.00 might follow.</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/US500CashH1-15.png" alt="S&P 500" class="wp-image-18723" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-15.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-15-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-15-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-15-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The stock index continues consolidating around 4251.0. Today, it might dip to 4166.1, with a correction to 4251.0 not excluded, followed by a decline to 4111.1.</p>
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