Technical Analysis & Forecast for September 14, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_10-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP</a> May Undergo Correction: Also, Insights into <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 the 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/2023/09/EURUSDH1-9.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-17960" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-9.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-9-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD is currently in a correction phase towards 1.0777. After reaching this level, it may decline to 1.0676, representing a local target. Subsequently, a new upward wave to 1.0900 could initiate.</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/2023/09/GBPUSDH1-9.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-17959" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-9.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-9-1536×682.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 downward wave to 1.2431. Today, the market is forming a corrective structure towards 1.2533. After reaching this level, a decline to 1.2424 might follow, from where a fresh upward wave to 1.2700 could commence.</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/2023/09/USDJPYH1-9.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-17958" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-9.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-9-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has concluded an upward wave at 147.73. Today, the market has initiated a new downward structure towards 146.55. A break below this level could open the potential for a further correction to 145.30. Once the correction concludes, a new upward wave towards 149.44 is expected to start.</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/2023/09/USDCHFH1-9.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-17957" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-9.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-9-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has broken out of a consolidation range upwards, completing an ascending wave structure to 0.8951. Today, the market continues with a corrective wave towards 0.8888. After this correction is completed, a new upward wave to 0.8980 could begin, representing the first 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/2023/09/AUDUSDH1-9.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-17956" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-9.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-9-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD is currently in a correction phase towards 0.6462. After this correction, a new downward wave to 0.6400 could initiate. If this level is also breached downwards, the potential for a <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>-driven decline to 0.6333 could open up.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-10.png" alt="BRENT" class="wp-image-17961" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-10.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-10-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>BRENT</figcaption></figure><p>Brent has completed an upward wave to 92.35 and a correction to 91.20. Today, the market continues to rise towards 92.55. After reaching this level, a correction towards 91.20 is not excluded. Next, a rise to 93.30 is expected, after which the trend could continue towards 96.40. This represents 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/2023/09/XAUUSDH1-9.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-17955" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-9.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-9-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has concluded a downward wave at 1905.33 and a correction at 1915.77. Today, the market continues to decline towards 1904.60. Subsequently, a rise to 1908.66 might occur (with a test from below). Then the price could decline to 1901.33. If this level is also breached downwards, the potential for a trend-driven decline to 1864.00 could open. This is a local 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/2023/09/US500CashH1-9.png" alt="S&P 500" class="wp-image-17954" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-9.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-9-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>S&P 500</figcaption></figure><p>S&P 500 has completed a downward wave to 4451.5. Today, the market has completed an upward wave to 4486.0 (with a test from below). A consolidation range could form below this level. If the range is breached to the downside, the potential for a decline to 4444.0 could open. If this level is also breached, the trend could extend towards 4416.6. This represents a local target.</p>
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