Technical Analysis & Forecast for September 15, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_11-360×360.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/forex/usdchf/" data-internallinksmanager029f6b8e52c="39" title="USD/CHF">CHF</a> in a Phase of Correction: Insights on <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/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a>, Brent, <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="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-10.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-17971" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has concluded its correction phase and is now proceeding with its downward wave. Currently, it has undergone a downward move to 1.0633. Today, the market is establishing a consolidation range above this level, expected to extend to 1.0655 (with a test from below). Subsequently, a decline to 1.0606 may follow, paving the way for a potential extension to 1.0588.</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/GBPUSDH1-10.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-17972" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has wrapped up a decline wave at 1.2396. Presently, the market is constructing a correction structure towards 1.2430 (with a test from below). Following this, a drop to 1.2386 could transpire. Following this, a new upward wave to 1.2700 might initiate.</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/USDJPYH1-10.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-17973" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY is establishing a consolidation range around the 147.40 level. At a certain point, the range was extended downward to 147.00 and upward to 147.68. A breakout from this range downwards might unleash the potential for a decline wave to 146.30.</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/USDCHFH1-10.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-17974" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has broken out of a consolidation range upwards, completing an ascending wave structure to 0.8969. Today, the market continues a correction wave to 0.8948 (with a test from above). Once the correction concludes, a fresh upward wave to 0.8980 could commence, marking the initial target.</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/AUDUSDH1-10.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-17975" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has finished a growth wave at 0.6472. A probable wave extension to 0.6481 is on the cards, followed by a decline to 0.6333, from where the <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> may persist to 0.6275.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-11.png" alt="BRENT" class="wp-image-17978" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-11.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-11-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-11-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-11-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>BRENT</figcaption></figure><p>Brent has wrapped up a growth wave to 94.07. Anticipate a consolidation range forming below this level today. If a breakout occurs downwards from this range, a correction to 91.20 might ensue. Subsequently, a wave of growth to 96.50 is in the offing, constituting 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/XAUUSDH1-10.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-17976" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has completed a decline wave to 1901.40 and a subsequent correction to 1915.80. Foresee a consolidation range forming below this level today. If a breakout occurs downwards from this range, the potential for a decline wave to 1887.00 may materialize.</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/US500CashH1-10.png" alt="S&P 500" class="wp-image-17977" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>S&P 500</figcaption></figure><p>The stock index has concluded a growth wave at 4520.0. A consolidation range could manifest under this level today. If a breakout occurs downwards from this range, a decline wave to 4430.0 could unfold, from where the trend might persist to 4400.0.</p>
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