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Technical Analysis & Forecast 03.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has made a descending movement to 1.0500. By now, the market has formed a consolidation range and, escaping it downwards, continues developing the wave by the trend to 1.0408. Upon reaching this level, a link of correction to 1.0500 (with a test from below) is not excluded. Next, a decline to 1.0383 by the trend is expected. This is a local target.

Technical Analysis & Forecast 03.10.2023 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has made a declining movement to 1.2085. By now, the market has formed a consolidation range around this level, and today, with an escape downwards, continues with a wave to 1.2035. And with a breakout of this level downwards, the potential for a decline to 1.1955 could open. This is a local target.

Technical Analysis & Forecast 03.10.2023 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY extends the wave of growth to 149.94. Next, a decline to 149.46 is expected. Practically, a consolidation range is forming around this level. With an escape upwards, the potential for a wave to 150.40 could open, from where the trend might continue to 150.90.

Technical Analysis & Forecast 03.10.2023 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a wave of growth to 0.9191. Today the market is forming a consolidation range around this level. An escape upwards to 0.9222 is expected, followed by a decline to 0.9191 (with a test from above). Next, a wave of growth to 0.9272 is expected. This is a local target.

Technical Analysis & Forecast 03.10.2023 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a wave of decline to 0.6360. By now, a consolidation range has formed around this level, and the quotes continue developing the trend to 0.6290, escaping the range downwards, from where the trend could continue to 0.6216.

Technical Analysis & Forecast 03.10.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has corrected to 89.33. A consolidation range might form above this level. Escaping the range upwards, the quotes might extend the wave to 96.96. This is a local target. After the price reaches this level, a link of correction to 92.70 is not excluded, followed by a rise to 104.00.

Technical Analysis & Forecast 03.10.2023 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1833.00. Today the market has formed a consolidation range around this level and extends the wave of decline to 1785.85 with an escape downwards. After the price reaches this level, it might correct to 1833.00 (with a test from below). Next, a decline to 1743.00 might follow.

Technical Analysis & Forecast 03.10.2023 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index continues developing a consolidation range around 4280.0. With an escape downwards, the wave might extend to 4226.0. Next, a rise to 4280.0 might follow (with a test from below). And next, a decline to 4040.0 could happen. This is a local target.

Technical Analysis & Forecast 03.10.2023 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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