Technical Analysis & Forecast for June 22, 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" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>Brent Expected to Continue 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> – Alongside 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/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 decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-10.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-15385" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-10.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-10-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The EUR/USD <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 broken out of a consolidation range to the upside, completing a growth <a title="<div class="wpg-tooltip-content"><p>A pattern is a particular recurring situation on the price chart of a financial instrument, which helps the trader to predict further possible price movements based on historical data.</p></div>" href="https://blog.roboforex.com/glossary-terms/pattern/">pattern</a> to 1.0994. Today, a corrective decline to 1.0950 is possible, followed by a rise to 1.1000. After reaching this level, a potential wave of decline to 1.0890 may occur.</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/GBPUSDH1-9.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-15384" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-9.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-9-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The GBP/USD currency pair has completed a downward wave to 1.2690, followed by a correction to 1.2780. Today, a consolidation range is expected to form around this level. If there is a downward breakout from this range, it may lead to a decline to 1.2670. Conversely, if there is an upward breakout, a link of growth to 1.2840 is not excluded, followed by a decline to 1.2670.</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/USDJPYH1-9.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-15383" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-9.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-9-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The USD/JPY currency pair has completed a growth pattern to 142.33. Today, a decline to 141.10 could occur. After reaching this level, a rise to 143.20 might ensue.</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/USDCHFH1-9.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-15382" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-9.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-9-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The USD/CHF currency pair has completed a downward wave structure to 0.8920. Today, the market is forming a consolidation range above this level. An upward breakout to 0.8955 is expected, followed by a potential subsequent decline to 0.8914.</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/AUDUSDH1-9.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-15381" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-9.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-9-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The AUD/USD currency pair has completed a downward wave structure to 0.6740, followed by a correction to 0.6805. Today, a new downward movement may develop to 0.6717. After reaching this level, a wave of growth to 0.6800 is anticipated.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-11.png" alt="BRENT" class="wp-image-15380" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-11.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-11-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-11-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-11-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>Brent <a title="<div class="wpg-tooltip-content"><p>Crude Oil is a natural resource used as a raw material in the refining and petrochemical industries.</p></div>" href="https://blog.roboforex.com/glossary-terms/oil/">crude oil</a> has completed a growth pattern to 77.20. Today, a decline to 76.06 is expected. Following this, a new upward pattern to 77.77 may ensue, and the trend could potentially continue to 79.25. This serves as a local target for Brent.</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/XAUUSDH1-9.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-15379" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-9.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-9-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>Gold has completed a downward wave to 1919.19. Today, the market has experienced a correction to 1937.55 (a test from below). Next, a new downward structure is expected to develop to 1917.00, followed by a potential continuation of the trend to 1906.60. After reaching this level, a correction to 1940.00 is not excluded, followed by a decline to 1901.00.</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/US500CashH4-8.png" alt="S&P 500" class="wp-image-15378" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-8.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-8-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The S&P 500 stock index continues its downward trend to 4357.2. After reaching this level, a correction to 4404.4 could occur. Next, a decline to 4300.7 is expected. This serves as a local target for the index.</p>
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