Japanese Candlesticks Analysis 15.09.2023 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed an Inverted Hammer reversal pattern near the support level. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1930.00. Upon testing the resistance, the price could break it and continue the uptrend. However, the quotes might pull back to 1908.00 before rising.

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Murrey Math Lines 19.09.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are under the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has broken the support line. In this situation, a test of the 1/8 (0.6408) level is expected, followed by its breakout and a decline to 0/8 (0.6347). The scenario can be cancelled by rising above 2/8 (0.6469), which might lead to a trend reversal and make the pair rise to the resistance level of 3/8 (0.6530).

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Murrey Math Lines 21.09.2023 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is approaching the resistance line. In this situation, a test of 4/8 (0.9033) is expected, followed by a breakout of the level and a rise to the resistance at 5/8 (0.9094). The scenario can be cancelled by a downward breakout of the 3/8 (0.8972) level, in which case the quotes could drop to the support at 2/8 (0.8911).

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Ichimoku Cloud Analysis 25.09.2023 (EURUSD, XAUUSD, USDJPY)

EURUSD, "Euro vs US Dollar"

EURUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which implies a downtrend. A test of the lower boundary of the Cloud at 1.0680 is expected, followed by a decline to 1.0515. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above the 1.0720 level, which will indicate a further rise to 1.0815.

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Technical Analysis & Forecast 27.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline wave to 1.0555. A consolidation range could develop above this level today. A link of growth to 1.0612 (a test from below) is not excluded, followed by a decline to 1.0494, potentially extending to 1.0450. This is a local target.

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Technical Analysis & Forecast 29.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has performed a growth movement to 1.0545. Today the market is forming a consolidation range above this level. Escaping the range downwards, the potential for a wave to 1.0477 could open. With an escape upwards, a link of correction to 1.0600 will not be excluded (with a test from below). Next, a decline to 1.0477 might follow.

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Murrey Math Lines 03.10.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes and the RSI on H4 are in their respective oversold areas. In this situation, a rebound from -1/8 (0.6317) could be expected, followed by a rise to the resistance at 1/8 (0.6378). The scenario can be cancelled by a rebound from -1/8 (0.6317). In this case, the quotes might continue falling, probably reaching the support level of -2/8(0.6286).

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Murrey Math Lines 05.10.2023 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the support line. In this situation, a test of 5/8 (0.9094) is expected, followed by a rebound from it and a rise to the resistance at 7/8 (0.9216). The scenario can be cancelled by a downward breakout of 5/8 (0.9094). In this case, the quotes could correct to the support at 4/8 (0.9033).

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Ichimoku Cloud Analysis 09.10.2023 (EURUSD, USDJPY, XAUUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.0540 is expected, followed by a decline to 1.0375. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0605, which will mean further growth to 1.0705. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.0485.

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Technical Analysis & Forecast 11.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has made a rising movement to 1.0619. Today the market is forming a consolidation range under this level. With an escape from the range upwards, the potential for a wave of growth to 1.0672 could open, followed by a link of correction to 1.0595 (with a test from above). After it is over, a rising wave to 1.0707 might start. This is a local target.

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Japanese Candlesticks Analysis 13.10.2023 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed a Doji reversal pattern. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 1900.00. Upon testing the resistance, the quotes might break it and continue developing the ascending wave. However, the quotes could drop to 1860.00 before rising.

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Technical Analysis & Forecast 18.10.2023

EURUSD, “Euro vs US Dollar”

EURUSD has its support level at 1.0533. Today the market is forming a growth movement to 1.0599. Upon reaching it, the market could form a link of decline to 1.0565 (with a test from above). Practically, a consolidation range might form around 1.0565. Escaping the range upwards, the price could continue the correction wave to 1.0640. With an escape downwards, the potential for a decline to 1.0500 might open.

Read more - Technical Analysis & Forecast 18.10.2023