Technical Analysis & Forecast October 27, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_17-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The S&P 500 index might experience further declines after a minor correction. In addition to this, we will delve into 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>, <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a>, Brent, and <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>.</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/2023/10/EURUSDH1-19.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-18768" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/EURUSDH1-19-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has initiated a downward wave, reaching 1.0521. It's possible that today, the quotes might correct to 1.0590. After reaching this level, a new wave of decline towards 1.0515 could commence. This marks the first 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/2023/10/GBPUSDH1-19.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-18767" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/GBPUSDH1-19-1536×680.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 descending wave to 1.2068. Today, it could correct to 1.2170. Following this, the trend might continue to 1.2000, which represents 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/2023/10/USDJPYH1-19.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-18766" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDJPYH1-19-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has successfully executed a rising impulse to 150.75 and undergone a correction to 149.83. Today, the market is establishing a consolidation range around 150.30 and could decline to 149.80. Should this level be breached downwards, the potential for a decline to 149.33 may become apparent. This constitutes the first target.</p>
<div>
<div>
<div>
<p>Discover the <span>R MobileTrader app</span></p>
<p>Get a portable trading workstation on your phone. Click on the button and install the application!</p>
</div>
<div>
<img decoding="async" class="block-banner__image block-banner__image_mobile" src="https://blog.roboforex.com/wp-content/uploads/2023/09/mt-mobile.png" alt="mobiletrader" /></div>
<div>
<a href="https://mobiletrader.onelink.me/MuKg/rfbannerandroid" target="_blank" rel="noopener"><img decoding="async" src="https://blog.roboforex.com/wp-content/themes/robo-blog-2021/images/footer/google-play-en.svg" /></a>
<a href="https://mobiletrader.onelink.me/MuKg/rfbannerios/" target="_blank" rel="noopener"><img decoding="async" src="https://blog.roboforex.com/wp-content/themes/robo-blog-2021/images/footer/app-store-en.svg" /></a>
</div>
</div>
<div>
<img decoding="async" class="block-banner__image block-banner__image_desktop" src="https://blog.roboforex.com/wp-content/uploads/2023/09/mt-desktop.png" alt="mobiletrader" /></div>
</div>
<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/USDCHFM30.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-18765" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFM30.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFM30-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFM30-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/USDCHFM30-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has reached the local target of the downward wave at 0.9003. Today, the quotes might correct to 0.8965 (with a test from above). Subsequently, a new upward movement to 0.9040 might commence. This is the first 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/2023/10/AUDUSDH1-19.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-18764" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/AUDUSDH1-19-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has formed a consolidation range around 0.6310 and, if it escapes upwards, could extend the correction to 0.6350. Upon completing this correction, a decline is anticipated, with the target being 0.6266 – this is the first target.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-12.png" alt="BRENT" class="wp-image-18763" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-12.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-12-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-12-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/BRENTH1-12-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>BRENT</figcaption></figure><p>Brent has successfully completed a correction wave at 86.50. Today, the market may rise to 89.50, and upon breaking this level upwards, it might open the potential for a new upward wave to 93.25, from which the trend could continue to 95.00. This represents 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/XAUUSDH4-9.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-18762" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-9.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-9-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-9-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/XAUUSDH4-9-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold continues to consolidate within the range around 1977.00. Today, the range may expand to 2001.11. Following this expansion, a decline to 1952.00 is expected. In the event of a breakout below this level, the potential for a decline towards 1905.00 may be realized – this is 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/2023/10/US500CashH1-17.png" alt="S&P 500" class="wp-image-18761" srcset="https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-17.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-17-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-17-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/10/US500CashH1-17-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The stock index has completed a declining wave to 4125.5. A correction to 4185.0 could potentially occur today, marked by a test from below. After the correction, a decline to 4111.1 is expected – this is the first target.</p>
<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a rel="nofollow" href="https://blog.roboforex.com/blog/2023/10/27/technical-analysis-forecast-october-27-2023/">Technical Analysis & Forecast October 27, 2023</a> appeared first at <a rel="nofollow" href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>
Leave a Comment