Technical Analysis & Forecast December 29, 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" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a> poised for further decline. This overview also encompasses the dynamics of <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/energies/brent/" data-internallinksmanager029f6b8e52c="312" title="Brent">Brent</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/EURUSDH1-15.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19712" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-15.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-15-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/EURUSDH1-15-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has concluded the initial downward impulse at 1.1073, followed by a correction to 1.1112. The structure of a new decline wave to 1.1055 has commenced. Notably, the low of the first decrease wave has been breached. Today, a consolidation range around 1.1055 is expected. If the range breaks downward, the decline wave may extend to 1.1020. This is considered a local target.</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/GBPUSDH1-15.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19719" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-15.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-15-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/GBPUSDH1-15-1536×689.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 decline wave at 1.2712, with a correction to 1.2773 expected today. Once the correction concludes, a decline to 1.2710 is anticipated. Breaking this level could open the potential for a decline to 1.2648, marking a local 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/USDJPYH1-15.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19713" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-15.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-15-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDJPYH1-15-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has completed a growth impulse to 141.66, with a correction to 140.90 expected today. After the correction, a new decline wave to 142.45 might commence, representing 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/USDCHFH1-15.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19714" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-15.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-15-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/USDCHFH1-15-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is structuring a growth wave to 0.8462. Upon reaching this level, a correction to 0.8396 could follow, succeeded by a rise to 0.8480. A breakthrough at this level might signal a continuation of the trend to 0.8565, marking 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/AUDUSDH1-15.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19715" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-15.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-15-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/AUDUSDH1-15-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has wrapped up a growth wave at 0.6824, with a correction to 0.6863. An anticipated decline wave to 0.6817 is expected today. If this level breaks, the wave might extend to 0.6777, representing a local 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/BRENTH4-6.png" alt="BRENT" class="wp-image-19716" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/BRENTH4-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent continues forming a correction to 76.90. After its completion, a rise to 83.15 might follow. Breaking this level could open the potential for a growth wave to 89.50, considered 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/XAUUSDH4-14.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19717" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/XAUUSDH4-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is structuring a correction to 2052.10. After the correction concludes, a growth link to 2118.50 is anticipated. Subsequently, a new decline wave to 1974.30 might begin, serving as a local target.</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/US500CashH1-15.png" alt="S&P 500" class="wp-image-19718" srcset="https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-15.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-15-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-15-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/12/US500CashH1-15-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&P 500</figcaption></figure><p>The stock index continues structuring a consolidation range around 4788.0 without a clear trend. Today, the range might extend to 4805.0, followed by a decline wave to 4772.0. Breaking this level could open the potential for a wave to 4696.0, considered the first target.</p>
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