Forex Technical Analysis & Forecast 23.11.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After completing another descending structure at 1.1230, EURUSD is expected to correct towards 1.1277. Later, the market may form a new descending structure to reach 1.1195 and then start another correction with the target at 1.1350.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.3396, GBPUSD is consolidating around this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1.3290; if to the upside – start another correction with the target at 1.3455.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the ascending wave at 74.84; right now. it is consolidating around this level. Possibly, the pair may break the range downwards and form a new descending structure with the first target at 72.72.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still growing. Possibly, today the pair may reach 115.40 and then form a new consolidation range there. If the price grows and breaks this range to the upside, the market may form one more ascending structure with the target at 115.88.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9330, USDCHF has formed a new consolidation range below this level. Possibly, the pair may start a new correction towards 0.9297 and then resume trading upwards with the target at 0.9350.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished another descending structure at 0.7222; right now, it is consolidating around this level. Possibly, today the pair may break the range to the downside and resume falling towards 0.7170. After that, the instrument may grow to reach 0.7260 and then start another decline with the target at 0.7150.

BRENT

Brent is still consolidating above 78.20. Today, the asset may break the range upwards and correct to reach 82.00. Later, the market may resume falling with the target at 77.40.

XAUUSD, “Gold vs US Dollar”

After finishing another descending wave at 1810.50, Gold has formed a new consolidation range фриovу this level. Possibly, the metal may break the range to the upside and reach 1844.44.

S&P 500

The S&P index has completed the descending wave at 4683.7; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 4633.6 and then form another ascending wave with the target at 4683.7.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.