Technical Analysis & Forecast September 25, 2023
3 minutes for reading
EUR/USD is currently consolidating within the range of 1.0646, with a potential expansion to 1.0677 today. A decline to 1.0606 is anticipated in the near term, followed by a subsequent upward movement to 1.0760.
GBP/USD is undergoing consolidation around 1.2264. A potential decline to 1.2222 may occur today, with a subsequent upward movement targeting 1.2323. This represents the initial target.
USD/JPY has established a consolidation range around 148.16. Today, the market is showing signs of an upward trend towards 148.48. If this level is breached, it may pave the way for further growth to 149.01, with the possibility of extending the trend to 149.42.
USD/CHF (US Dollar vs Swiss Franc)
USD/CHF is in a consolidation phase around 0.9050. The price could potentially rise to 0.9082 today, and breaking above this level might trigger further growth towards 0.9130. This represents the initial target.
AUD/USD has undergone a correction to 0.6464. The market is expected to continue its downward movement to 0.6393 today. A break below this level could lead to a decline to 0.6333, representing a local target. Following this, a correction to 0.6393 may ensue, followed by another decline to 0.6277.
Brent is in a consolidation phase above 91.41. The price is likely to break upwards and continue its ascent to 96.06, with the potential for the trend to extend to 97.07. This represents a local target. Following this, a correction to 89.40 might commence, followed by a subsequent rise to 103.75.
Gold has completed a growth wave, reaching 1929.00, followed by a decline to 1922.00. A consolidation range has practically formed around 1922.00, which may expand to 1930.00 today. Subsequently, a decline to 1912.50 is anticipated. A break below this level could initiate a movement to 1901.00, from where the trend might continue to 1894.77.
The stock index has completed a decline wave, reaching 4316.1. Today, a consolidation range may form above this level. If there's an upward breakout, a corrective link to 4387.2 (a bottom test) could develop, followed by a decline to 4215.5, representing a local target. After hitting this level, a corrective link to 4290.0 might form, followed by another decline to 4158.5. This marks the initial target.