Technical Analysis & Forecast December 13, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_20-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis &amp; Forecast" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a> Poised for Continued Correction: Overview for <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a>, USD, <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, <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>, and S&amp;P 500</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/EURUSDH1-3.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19506" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD broke free from a consolidation range, concluding a growth wave at 1.0826. Subsequently, a decline impulse brought the price to 1.0766. The market is presently shaping a fresh consolidation range around 1.0788. An upward breakout could extend the correction to 1.0844, while a downward breakout opens the potential for a decline wave to 1.0740, with a subsequent extension to 1.0626. This marks 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/GBPUSDH1-3.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19507" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD broke out of a consolidation range upwards, reaching the correction wave target at 1.2614. Following this, a decline impulse occurred at 1.2514. The quotes are expected to consolidate around 1.2555. An upward breakout may lead to a growth link to 1.2615, while a downward breakout opens the potential for a decline wave to 1.2470.</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/USDJPYH1-3.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19505" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY concluded a correction structure at 144.73. The market may continue correcting to 144.48 (a test from above). Following this correction, a growth structure to 147.40 is anticipated, marking the first 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/USDCHFH1-3.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19504" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF completed a correction to 0.8722, with a possible extension to 0.8715. Following the correction, a growth wave to 0.8880 could follow, representing the first target.</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/AUDUSDH1-3.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19508" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD experienced a decline impulse to 0.6539. The market is forming a consolidation range around 0.6555. A downward breakout may lead to a decline to 0.6500, followed by a potential upward link to 0.6555 (a test from below), and then a decrease to 0.6490. This is the first target.</p>

<h2>BRENT</h2>

<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-2.png" alt="BRENT" class="wp-image-19503" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent formed a consolidation range around 73.40. A potential downward breakout from the range could lead to a wave extension to 70.40. After reaching this level, a new growth wave to 76.50 might develop, extending the trend to 80.40. This represents 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/XAUUSDH4-3.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19509" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold completed a correction wave to 1995.45 (a test from below). A potential continuation of the decline structure could lead to 1952.42, with the trend extending to 1907.55. This is the first target.</p>

<h2>S&amp;P 500</h2>

<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-3.png" alt="S&amp;P 500" class="wp-image-19502" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&amp;P 500</figcaption></figure><p>The stock index corrected to 4612.2 (a test from above) and performed a growth link to 4656.0 today. A potential decline link to 4638.8 is not excluded. Following this, quotes might rise to 4663.9, marking a local target. It's essential to note that the entire growth structure is interpreted as an extension of the growth wave, and at any moment, the market could initiate a steep decline to 4545.0.</p>

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