Technical Analysis & Forecast December 20, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_1-360×360.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>'s upward trajectory may persist. This overview also delves 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>, <a href="https://roboforex.com/beginners/info/charts/energies/brent/" data-internallinksmanager029f6b8e52c="312" title="Brent">Brent</a>, and the S&P 500 index.</p>
<h2>EUR/USD (Euro vs US Dollar)</h2>
<figure><img decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-8.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19599" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-8.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-8-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-8-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-8-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD completed a growth wave, reaching 1.0986. Currently, a consolidation range is shaping below this level. A potential downward breakout could lead to a correction to 1.0936. Following the correction, there's a possibility of a new growth wave targeting 1.1011. This is considered a local target.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-8.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19598" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-8.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-8-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-8-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-8-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD concluded a growth wave at 1.2760. The market is undergoing correction to 1.2720 today. Following the correction, a new upward link to 1.2777 might form, succeeded by a decline to 1.2700.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-8.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19597" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-8.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-8-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-8-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-8-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY is in the midst of an extending corrective wave to 143.07. After the correction, there's potential for a rise to 145.88, marking a local target.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-8.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19596" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-8.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-8-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-8-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-8-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF completed a decline wave to 0.8592. A consolidation range is emerging above this level. An upward breakout might trigger a growth wave to 0.8650. Upon reaching this level, a decline structure to 0.8590 could unfold.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-8.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19595" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-8.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-8-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-8-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-8-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD continues evolving in a growth wave to 0.6783, and there's potential for an extension to 0.6800. Following this level, a new decline wave to 0.6730 might initiate, paving the way for a continuation to 0.6666.</p>
<h2>BRENT</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-4.png" alt="BRENT" class="wp-image-19594" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent is progressing in a growth wave to 79.82. After reaching this level, a corrective link to 77.60 is plausible. Once the correction concludes, the trend may resume towards 83.00. This is considered the first target.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-7.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19593" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-7.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-7-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-7-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-7-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has established a fresh growth structure to 2046.00. A consolidation range is anticipated around this level. An upward breakout could signal a potential growth wave to 2075.00. This is a local target. Subsequently, a decline to 2046.00 might follow (a test from above), and the price could then rise to 2118.00.</p>
<h2>S&P 500</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-8.png" alt="S&P 500" class="wp-image-19592" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-8.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-8-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-8-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-8-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&P 500</figcaption></figure><p>The stock index is advancing in a growth wave to 4782.0. Upon reaching this level, a correction to 4739.0 might unfold. A wide consolidation range is practically forming around this level. If there's a downward breakout, a decline wave to 4666.0 could follow.</p>
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