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Technical Analysis & Forecast 01.12.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline wave to 1.0940. By now, the market has formed a consolidation range around this level and, escaping it downwards, reached the local target of 1.0878. A correction to 1.0940 might develop today (a test from below). After the correction is over, a new decline structure to 1.0860 could form. This is the first target.

Technical Analysis & Forecast 01.12.2023 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 reached the local target of a decline wave at 1.2603. A corrective link to 1.2663 might follow today. Next, a decline wave to 1.2588 could form. This is the first target. After that, a correction wave to 1.2663 is expected.

Technical Analysis & Forecast 01.12.2023 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 has completed a growth structure to 148.50. A corrective structure to 147.35 is forming today. Once the correction is over, a new growth wave to 148.71 might begin. With a breakout of this level, the potential for a wave to 150.00 might open. This is a local target.

Technical Analysis & Forecast 01.12.2023 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 performed a growth impulse to 0.8764. Today the quotes might correct to 0.8723. After the correction is over, a new growth wave to 0.8760 might start. With a breakout of this level upwards, the potential for further development of the wave to 0.8814 could open. This is the local target.

Technical Analysis & Forecast 01.12.2023 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 decline wave to 0.6570. A correction link to 0.6642 is not excluded today. After the correction is over, a new wave to 0.6555 could start. With a breakout of this level, the potential for further development of the wave to 0.6480 might open. This is a local target.

Technical Analysis & Forecast 01.12.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has completed a growth wave to 84.70. Today the market is forming a correction link to 79.90. Practically, a consolidation range continues developing around 80.00. With a breakout of the range upwards, a growth link to 88.00 might follow. This is a local target.

Technical Analysis & Forecast 01.12.2023 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold continues forming a consolidation range at the highs of the growth wave around 2040.00. A decline link to 2025.25 is expected today. Next, a growth link to 2040.00 could follow. After that, the price might drop to 1986.00. This is the first target.

Technical Analysis & Forecast 01.12.2023 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index has completed a decline impulse to 4540.0. By now, it has corrected to 4566.6. A decline link to 4540.0 might form today. With a breakout of this level downwards, the potential for further development of the wave to 4505.5 could open. This is a local target.

Technical Analysis & Forecast 01.12.2023 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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