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Technical Analysis & Forecast for July 27, 2023 – R Blog

EUR/USD (Euro vs US Dollar)

EUR/USD (Euro vs US Dollar)

EUR/USD has established a consolidation range between 1.1057 and 1.1117, breaking out of it to the upside. Today, the quotes might rise to 1.1122 (with a test from below). After reaching this level, a new downward wave to 1.1020 could initiate. If this level is also breached, the potential for further decline towards 1.0977 may open. This marks the first target.

GBP/USD (Great Britain Pound vs US Dollar)

GBP/USD (Great Britain Pound vs US Dollar)

GBP/USD has formed a consolidation range around 1.2885. Breaking out upwards, the market formed a correction structure to 1.2972. A wave of decline to 1.2885 is expected to begin. Breaking below this level could expose the potential for a trend-driven decline to 1.2770. This represents a local target.

USD/JPY (US Dollar vs Japanese Yen)

USD/JPY (US Dollar vs Japanese Yen)

USD/JPY has corrected to 139.44. A new structure of growth to 140.70 is expected today. If this level is broken upwards, the potential for a rise to 142.36 could materialize. This marks the first target.

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USD/CHF (US Dollar vs Swiss Franc)

USD/CHF (US Dollar vs Swiss Franc)

USD/CHF has completed a correction to 0.8580. A rise to 0.8634 could take place today. Next, a decline to 0.8570 is not excluded, followed by a new wave of growth to 0.8799. This represents the first target.

AUD/USD (Australian Dollar vs US Dollar)

AUD/USD (Australian Dollar vs US Dollar)

AUD/USD has completed a corrective structure to 0.6811. A new downward wave to 0.6737 could develop today, with the potential for the trend to continue towards 0.6655. This marks the first target.

BRENT

BRENT

Brent is forming a consolidation range around 83.00, expected to expand to 83.62. This represents a local target. Subsequently, a correction to 81.00 might begin, followed by a rise to 84.00. This marks the first target.

XAU/USD (Gold vs US Dollar)

XAU/USD (Gold vs US Dollar)

Gold has formed a consolidation range around 1967.25, extending the correction to 1982.00 with an upward escape. Today, the quotes could drop to 1967.25. A break below this level might lead to the trend continuing towards 1937.35.

S&P 500

S&P 500

The stock index continues developing an upward link to 4591.0. After reaching this level, a decline to 4530.0 is expected. Breaking below this mark could expose the potential for a decline to 4488.0. This represents the first target.

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Material is prepared by

Has been in Forex since 2000. In 2005, designed his own trading system called Extra. He has been a state author of articles on tech analysis for RoboForex clients for the last 10 year.

The post Technical Analysis & Forecast for July 27, 2023 – R Blog appeared first on Forex Markets Live.



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