Technical Analysis & Forecast December 01, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_17-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>Brent remains in a consolidation phase at the lower levels of the declining wave. This analysis also encompasses the movements of <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a>, <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP</a>, <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a>, <a href="https://roboforex.com/beginners/info/charts/forex/usdchf/" data-internallinksmanager029f6b8e52c="39" title="USD/CHF">CHF</a>, <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a>, <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>, and the S&P 500 index.</p>
<h2>EUR/USD (Euro vs US Dollar)</h2>
<figure><img decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19343" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has concluded a downward wave, reaching 1.0940. Currently, the market has established a consolidation range around this level. Breaking out of this range to the downside, it achieved the local target of 1.0878. Today, a correction to 1.0940 might unfold (testing from below). Following this correction, a new descending structure to 1.0860 is anticipated. This marks the initial target.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19342" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has achieved the local target of the downward wave at 1.2603. A corrective phase to 1.2663 could materialize today. Subsequently, a downward wave to 1.2588 is expected. This represents the first target. Following this, a corrective wave to 1.2663 is anticipated.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19341" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has completed an upward structure to 148.50. Today, a corrective structure to 147.35 is in progress. After the correction concludes, a new upward wave to 148.71 might initiate. Breaking out of this level could reveal potential for a wave to 150.00. This serves as a local target.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19340" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has executed an upward impulse to 0.8764. Today, quotes might correct to 0.8723. Following the correction, a new upward wave to 0.8760 could commence. If there's a breakout above this level, the potential for further development of the wave to 0.8814 could unfold. This is the local target.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19339" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has finalized a downward wave to 0.6570. A corrective link to 0.6642 is conceivable today. Following the correction, a new wave to 0.6555 could begin. Breaking out of this level could open the potential for further development of the wave to 0.6480. This serves as a local target.</p>
<h2>BRENT</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4.png" alt="BRENT" class="wp-image-19338" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>BRENT</figcaption></figure><p>Brent has concluded an upward wave to 84.70. Today, the market is undergoing a correction to 79.90. Essentially, a consolidation range persists around 80.00. Breaking out of the range to the upside could lead to a growth phase to 88.00. This is a local target.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19337" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is still forming a consolidation range at the peak of the growth wave around 2040.00. Today, a downward link to 2025.25 is expected. Subsequently, a growth link to 2040.00 could follow. Afterward, the price might decline to 1986.00. This represents the initial target.</p>
<h2>S&P 500</h2>
<figure><img loading="lazy" decoding="async" width="1567" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1.png" alt="S&P 500" class="wp-image-19344" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>S&P 500</figcaption></figure><p>The stock index has completed a downward impulse to 4540.0. Currently, it has corrected to 4566.6. A downward link to 4540.0 might manifest today. Breaking out of this level to the downside could reveal the potential for further development of the wave to 4505.5. This is a local target.</p>
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