Technical Analysis & Forecast September 12, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_8-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>'s Potential for Further Decline and More Insights into <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="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-7.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-17931" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has corrected to 1.0767. Today, the market continues to decline to 1.0723. A break below this level could push the price down to 1.0697, followed by a potential rise to 1.0723 (a test from below). A decline to 1.0680 is a local target. Once this level is reached, a wave of growth to 1.0900 might commence.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-7.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-17930" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has completed a correction at 1.2546. Today, a downward wave to 1.2486 is possible. A break below this level could lead to a movement towards 1.2453, followed by an ascent to 1.2486 (a test from below). Subsequently, the price is expected to drop to 1.2425, which is a local target. After reaching this level, a wave of growth to 1.2700 is anticipated.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-7.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-17929" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has concluded a wave of decline at 145.92, followed by a correction to 146.97. Next, another downward structure to 145.27 might develop. After touching this level, the price could start ascending towards 148.70.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-7.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-17928" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF continues to consolidate around 0.8917 without a clear <a title="<div class="wpg-tooltip-content"><p>A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.</p></div>" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a>. Today, the range is expected to expand to 0.8888 (a test from above). After reaching this level, the price might rise to 0.8990. Subsequently, a wave of decline to 0.8800 could follow.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-7.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-17933" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has completed a corrective wave at 0.6448. A decline to 0.6390 is possible today. A break below this level could open the potential for a move to 0.6363, followed by an upward move to 0.6390 (a test from below). Then, the price could fall to 0.6333.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-8.png" alt="BRENT" class="wp-image-17927" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-8.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-8-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>BRENT</figcaption></figure><p>Brent has finished a growth wave at 91.08, followed by a correction to 90.00. Today, a rise to 92.20 is possible, followed by a correction to 91.10 (a test from above). Subsequently, the price could climb to 93.20, which is a local target.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-7.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-17932" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has completed a corrective wave at 1930.18. Today, the market continues to move downward to 1915.35. An upward move to 1922.72 is expected next (a test from below), followed by a drop to 1913.60, with the trend potentially continuing to 1870.00.</p>
<h2>S&P 500</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-7.png" alt="S&P 500" class="wp-image-17926" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>S&P 500</figcaption></figure><p>The stock index has finished a corrective wave at 4496.7. Today, a consolidation range is expected to form below this level. A break below this range could open the potential for a decline to 4433.0, from where the trend could continue to 4414.4.</p>
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