Technical Analysis & Forecast for July 25, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_22-360×360.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/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a> Continues to Decline – Overview 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 S&P 500 Index</p>
<h2>EUR/USD (Euro vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/EURUSDH1-6.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-17128" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/EURUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/EURUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/EURUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/EURUSDH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has completed another decline, reaching 1.1059. Today, the market is forming a consolidation range above this level. The price is expected to break downwards and continue this wave to the level of 1.1024. This is a local target. After the price reaches this level, a correction to 1.1125 (a test from below) could develop, followed by a decline to 1.0977.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/GBPUSDH1-6.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-17129" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/GBPUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/GBPUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/GBPUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/GBPUSDH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has completed a decline to the 1.2797 level. Today, the market is forming a consolidation range above this level. The price is expected to break downwards and continue the wave to the level of 1.2770. This is a local target. After the price reaches this level, a correction to 1.2860 could start.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/USDJPYH4-6.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-17130" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/USDJPYH4-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/USDJPYH4-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/USDJPYH4-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/USDJPYH4-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY continues developing a correction to the level of 139.80. Once the correction is over, another wave of growth to 142.33 could follow.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/USDCHFH4-6.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-17131" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/USDCHFH4-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/USDCHFH4-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/USDCHFH4-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/USDCHFH4-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF continues forming a consolidation range around the 0.8677 level. An upward breakout could open the potential for growth to the 0.8750 level. With a downward breakout, a correction to the 0.8625 level is possible, followed by growth to 0.8800.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/AUDUSDH1-6.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-17132" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/AUDUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/AUDUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/AUDUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/AUDUSDH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has completed a decline to the 0.6714 level. Today, a correction to the 0.6766 level has formed. A further wave of decline is expected to the 0.6688 level. After this level is reached, a correction to 0.6760 could start, followed by a decline to 0.6638.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/BRENTH1.png" alt="BRENT" class="wp-image-17133" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/BRENTH1.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/BRENTH1-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/BRENTH1-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/BRENTH1-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>BRENT</figcaption></figure><p>Brent has completed a growth to 82.88. Today, a consolidation range is forming above this level. The price is expected to break upwards and continue to rise to the 83.25 level. After this level is reached, a correction to 81.00 (a test from above) is possible, followed by growth to the 84.00 level with the prospect of <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> continuation to 85.00. This is a local target.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/XAUUSDH1-6.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-17134" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/XAUUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/XAUUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/XAUUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/XAUUSDH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has completed a decline to 1953.20. Today, a correction could develop to the 1962.30 level, with the trend continuing to the 1950.40 level. After the price reaches this level, another correction to 1960.30 is possible, followed by a decline to 1937.15. This is the first target.</p>
<h2>S&P 500</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/07/US500CashH4-6.png" alt="S&P 500" class="wp-image-17135" srcset="https://blog.roboforex.com/wp-content/uploads/2023/07/US500CashH4-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/07/US500CashH4-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/07/US500CashH4-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/07/US500CashH4-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>S&P 500</figcaption></figure><p>The stock index suggests a correction to 4572.0. Once the correction is over, a decline to 4486.6 could start, followed by growth to the 4534.4 level.</p>
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