Technical Analysis & Forecast December 11, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_18-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a> is currently in a declining phase. In this overview, we'll also delve into the dynamics 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>, Brent, 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/EURUSDH1-1.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19444" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has completed a downward wave, reaching 1.0723. The market has undergone correction to 1.0780. Presently, a consolidation range is forming below this level. Anticipate a downward breakout to 1.0704, and with a subsequent breakout, there's potential for a downward wave to 1.0626. This is a local 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/GBPUSDH1-1.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19445" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has finished a downward wave to 1.2502. A consolidation range is developing above this level. An anticipated downward breakout to 1.2470 may occur, possibly followed by a correction to 1.2595. Subsequently, the price might decline to 1.2400.</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/USDJPYH1-1.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19446" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has completed a growth structure, reaching 144.88. A consolidation range has formed around this level. An upward breakout from this range may lead to a wave to 147.31. This is a local target. Subsequently, a decline to 144.88 might happen (a test from above), followed by a rise to 148.15. This is the first 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/USDCHFH1-1.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19447" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has concluded a rising impulse, reaching 0.8819. The pair might correct to 0.8780 today. Following the correction, a new upward wave to 0.8833 might commence, and the trend could continue to 0.8899.</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/AUDUSDH1-1.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19448" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has completed a corrective wave to 0.6619. A new downward wave to 0.6555 has emerged. Currently, a consolidation range is forming around this level. An expected downward breakout could lead to another declining wave to 0.5495. This is 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/BRENTH1.png" alt="BRENT" class="wp-image-19449" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>BRENT</figcaption></figure><p>Brent is in the process of forming an upward wave to 77.77. After reaching this level, a correction link to 75.65 could develop, followed by an upward wave to 81.07. From there, the trend might continue to 83.25. This is the first 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/XAUUSDH4-1.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19450" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has undergone a decline to 2026.45. A consolidation range has formed around this level. An anticipated downward breakout from this range could result in a new declining structure to 1908.00. Upon reaching this level, the price might initiate a correction to 2026.45 (a test from below).</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/US500CashH1-1.png" alt="S&P 500" class="wp-image-19451" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-1.png 1567w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-1-768×346.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-1-1536×691.png 1536w" sizes="(max-width: 1567px) 100vw, 1567px" /><figcaption>S&P 500</figcaption></figure><p>The stock index is currently forming an upward wave to 4621.0. After reaching this level, the price could undergo a correction link to 4583.3. Subsequently, a new upward wave to 4627.6 might develop.</p>
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