Technical Analysis & Forecast December 14, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_21-360×360.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/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a> could extend its decline. Additionally, learn about 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&amp;P 500 index in this overview.</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/EURUSDH1-4.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19531" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD broke out of a consolidation range to the upside, concluding a corrective wave at 1.0914 based on the latest news. A new consolidation range might take shape below this level today. A downside breakout from this range could trigger a decline wave to 1.0820. If this level is breached, the potential for the trend to continue down to 1.0690 might unfold. 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/GBPUSDH1-4.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19532" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD executed a decline wave to 1.2500, followed by a corrective move to 1.2650 as per the news. A consolidation range may develop below this level today. A downward breakout from this range could pave the way for a decline to 1.2555, and from there, the trend might persist to 1.2470. This is the initial target.</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/USDJPYH1-4.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19530" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY completed a declining wave structure to 141.15. A consolidation range might take shape above this level today. An upward breakout from this range could indicate the potential for a growth wave to 143.80, and from there, the trend might extend to 145.33. This stands as 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/USDCHFH1-4.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19529" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF underwent a correction to 0.8666. A consolidation range might develop above this level today. An upward breakout from this range could suggest a rise to 0.8722, and from there, the trend might carry on to 0.8780. This is a local 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/AUDUSDH1-4.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19528" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD experienced a corrective move to 0.6727 as per the news. A consolidation range may shape up below this level today. A downside breakout from this range might lead to a continuation of the decline wave to 0.6611, extending the trend to 0.6494. This is the initial 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/BRENTH1-3.png" alt="BRENT" class="wp-image-19527" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent found support at 72.30 and is in the process of developing an upward wave to 75.25. After reaching this level, the price might form a downward move to 71.30. Following this, a new upward wave to 78.10 might commence, and from there, the trend could unfold to 81.30. This is a local 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/XAUUSDH1.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19526" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold corrected to 2038.00, and a consolidation range might form below this level today. A downside breakout from this range could result in a continuation of the wave to 1973.00, and from there, the trend might extend to 1907.00. This is the initial 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/US500CashH1-4.png" alt="S&amp;P 500" class="wp-image-19525" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&amp;P 500</figcaption></figure><p>The stock index executed an upward wave to 4731.0. Currently, a consolidation range is emerging below this level. A downside breakout from this range could trigger a correction move to 4655.0. Subsequently, a rise to 4750.0 might ensue. This marks a local target.</p>

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