Technical Analysis & Forecast December 18, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_23-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>Brent's uptrend persists. The overview also delves into the movements 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/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 loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-6.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19555" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has concluded its correction at 1.0889. A climb to 1.0949 is anticipated today. A consolidation range is practically forming around 1.0950. A breakout upwards could propel the quotes to 1.1050. Conversely, a downward escape might open the door to a decline to 1.0770.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-6.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19556" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has wrapped up a corrective wave at 1.2656. A rise to 1.2707 is on the horizon today, followed by a dip to 1.2622. Once this level is reached, the pair could embark on an upward trajectory to 1.2707. A broad consolidation range could materialize around this level. If a downward breakout occurs, it might pave the way for a decline to 1.2500.</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/USDJPYH1-6.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19557" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-6-1536×689.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 forming a consolidation range around 142.22 without a clear trend. A breakout upwards could trigger a correction to 143.44, followed by a descent to 140.33. Next, an ascent to 143.43 is expected, setting the stage for a potential continuation to 146.55. This marks 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/USDCHFH1-6.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19558" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is persistently shaping a consolidation range around 0.8694. A drop to 0.8610 is in the cards today, followed by an ascent to 0.8694 (a test from below). Subsequently, a decline to 0.8566 might unfold. After reaching this level, a growth wave to 0.8800 could take off.</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/AUDUSDH1-6.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19559" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD is currently constructing a consolidation range below 0.6700. A breakout downward might usher in a correction to 0.6633, followed by an upswing to 0.6740. Upon reaching this level, the price might initiate a decline wave to 0.6525.</p>
<h2>BRENT</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-2.png" alt="BRENT" class="wp-image-19560" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent is continuing its upward trajectory towards 78.50. Following this peak, a corrective decline to 75.30 might follow. Subsequently, a rise to 80.15 is expected, where the trend could extend to 84.72. This represents 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/XAUUSDH4-5.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19561" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-5.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-5-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-5-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-5-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has wrapped up a correction at 2047.55. Next, a decline wave to 1948.80 might materialize, succeeded by an upswing to 2047.50. Following that, the price could plummet to 1940.00, from where the wave might continue to 1855.00.</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/US500CashH1-6.png" alt="S&P 500" class="wp-image-19562" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&P 500</figcaption></figure><p>The stock index is currently entrenched in a consolidation range around 4722.0 without a clear trend. An upward breakout could expand the range to 4751.0. Subsequently, a corrective decline to 4655.5 might take place, followed by a rise to 4767.0.</p>
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