Technical Analysis & Forecast for 20.06.2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_6-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> May Extend Corrective Decline. Analysis 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/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, <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>, and S&P 500 Index.</p>
<h2>EUR/USD, Euro vs US Dollar</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-8.png" alt="EUR/USD, Euro vs US Dollar" class="wp-image-15356" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-8.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-8-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> has completed a downward wave, reaching 1.0907, followed by a correction to 1.0926. Today, a decline to 1.0878 is anticipated, with a subsequent consolidation range expected to form around this level. If there is a break below this range, it could potentially trigger a decline to 1.0820, which serves as a local target.</p>
<h2>GBP/USD, Great Britain Pound vs US Dollar</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-7.png" alt="GBP/USD, Great Britain Pound vs US Dollar" class="wp-image-15355" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-7.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-7-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The currency pair has finished a downward wave, reaching 1.2770, and then a correction to 1.2804. Today, a decline to 1.2741 is expected, followed by the formation of a consolidation range around this level. A breakout below this range may lead to a wave of decline towards 1.2680, which represents a local target.</p>
<h2>USD/JPY, US Dollar vs Japanese Yen</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-7.png" alt="USD/JPY, US Dollar vs Japanese Yen" class="wp-image-15354" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-7.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-7-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The currency pair is continuing its upward wave towards 142.30. Once the price reaches this level, a correction to 141.10 might follow. The subsequent movement is expected to be a rise towards 143.17, serving as the initial target.</p>
<h2>USD/CHF, US Dollar vs Swiss Franc</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-7.png" alt="USD/CHF, US Dollar vs Swiss Franc" class="wp-image-15353" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-7.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-7-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The currency pair has completed an upward wave, reaching 0.8973, followed by a correction to 0.8950. Today, the market is continuing its upward <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> towards 0.9018. After reaching this level, a correction to 0.8950 might occur, followed by a rise towards the target of 0.9100.</p>
<h2>AUD/USD, Australian Dollar vs US Dollar</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-7.png" alt="AUD/USD, Australian Dollar vs US Dollar" class="wp-image-15352" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-7.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-7-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The currency pair has completed a correction to 0.6874. Today, it is expected to continue its downward wave towards 0.6742. Once this level is reached, a correction to 0.6800 (tested from below) is anticipated, followed by a decline towards the first target of 0.6717.</p>
<h2>Brent</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-9.png" alt="Brent" class="wp-image-15351" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-9.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-9-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>Brent has completed an upward wave, reaching 76.88. Today, a correction to 74.94 is possible. The subsequent movement could lead to further growth towards 78.50, and from there, the trend may continue towards the local target of 80.50.</p>
<h2>XAU/USD, Gold vs US Dollar</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-7.png" alt="XAU/USD, Gold vs US Dollar" class="wp-image-15350" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-7.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-7-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>Gold has completed a downward wave, reaching 1947.85, followed by a correction to 1953.88. Today, the market is expected to continue its downward wave towards 1942.55. A consolidation range might develop around this level, and a breakout below this range could potentially trigger a decline to 1930.45. From there, a wave towards 1918.00 might form.</p>
<h2>S&P 500</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-6.png" alt="S&P 500" class="wp-image-15349" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-6.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-6-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The stock index is continuing its downward wave towards 4374.0. Once this level is reached, a correction to 4410.0 might follow. The subsequent movement is expected to be a decline towards the local target of 4306.6.</p>
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