Technical Analysis & Forecast for June 29, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_13-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>The S&P 500 index initiates a downward movement. The article also provides insights on the performance 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 <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>.</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/2023/06/EURUSDH1-15.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-16528" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-15.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-15-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-15-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-15-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>EUR/USD has broken below 1.0920 and is currently undergoing a decline towards 1.0880. Once the price reaches this level, a potential upward correction to 1.0920 (a test from below) cannot be ruled out. Subsequently, a further decline to 1.0857 is anticipated, with a potential continuation of the downward wave towards 1.0750 as a local target.</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/2023/06/GBPUSDH1-14.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-16529" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-14.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-14-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-14-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-14-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>GBP/USD has completed a downward wave, reaching 1.2606. The market is currently consolidating above this level. There is a possibility of a corrective bounce to 1.2686 (a test from below). However, a subsequent decline to 1.2538 is expected as the initial target.</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/2023/06/USDJPYH1-15.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-16530" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-15.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-15-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-15-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-15-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>USD/JPY continues its upward movement towards 144.88. After reaching this level, a potential downward correction to 143.90, followed by a rise to 145.00, cannot be excluded. A subsequent downward wave towards 141.66 may ensue.</p>
<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/2023/06/USDCHFH1-14.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-16531" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-14.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-14-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-14-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-14-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>USD/CHF is consolidating within a range around 0.8977. A potential upward movement towards 0.9004 is anticipated today. In the event of a breakout above this level, there is potential for further upward <a title="<div class="wpg-tooltip-content"><p>Momentum is an indicator of the speed and direction of price change over a specific time frame.</p></div>" href="https://blog.roboforex.com/glossary-terms/momentum/">momentum</a> towards 0.9055 as a local target.</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/2023/06/AUDUSDH1-14.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-16532" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-14.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-14-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-14-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-14-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>AUD/USD has completed a downward wave, reaching 0.6594. A potential corrective rally towards 0.6650 (a test from below) is not ruled out today. Subsequently, a decline to 0.6587 could follow. Once the target is reached, a new wave of growth towards 0.6717 might begin.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH4-6.png" alt="BRENT" class="wp-image-16533" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH4-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH4-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH4-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH4-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>Brent has concluded an upward wave, reaching 71.85. The market has recently completed a surge to 74.38. Currently, a consolidation range is forming below this level. If the price breaks above this range, it could extend the upward wave towards 77.34 and potentially reach 81.00.</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/2023/06/XAUUSDH1-14.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-16534" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-14.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-14-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-14-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-14-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>Gold continues its downward wave towards 1900.00. Following the price reaching this level, a potential upward wave towards 1918.15 may occur, followed by a decline to 1906.50. A subsequent wave of growth towards 1936.80 might initiate thereafter.</p>
<h2>S&P 500</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-12.png" alt="S&P 500" class="wp-image-16535" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-12.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-12-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-12-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-12-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /></figure><p>The stock index has completed a corrective structure, reaching 4389.5. A new downward wave towards 4326.8 is expected today, with the potential for further continuation towards 4282.2.</p>
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