Technical Analysis & Forecast – June 21, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_7-360×360.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>'s downward <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> is expected to continue, while this overview also covers 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 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/EURUSDH1-9.png" alt="EUR/USD, Euro vs US Dollar" class="wp-image-15359" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-9.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-9-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-9-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSDH1-9-1536×681.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> is currently in a declining wave formation towards 1.0880. Once it reaches this level, a correction to 1.0915 may occur (a test from below). Subsequently, a decline to 1.0820 is anticipated as a local target.</p>
<h2>GBP/USD (British 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/GBPUSDH1-8.png" alt="GBP/USD, British Pound vs US Dollar" class="wp-image-15360" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-8.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSDH1-8-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The GBP/USD currency pair has concluded a downward wave at 1.2713, followed by a correction to 1.2767. A decline to 1.2672 is expected today, potentially leading to a consolidation range around this level. If a breakout occurs downwards, there is potential for a further decline to 1.2680. Conversely, an upward breakout may result in a correction towards 1.2760, followed by a decline to 1.2626 as 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/USDJPYH1-8.png" alt="USD/JPY, US Dollar vs Japanese Yen" class="wp-image-15361" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-8.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPYH1-8-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The USD/JPY currency pair is currently within a consolidation range around 141.71, which could extend to 141.10. A rise to 142.33 is a likely possibility. Furthermore, if a breakout occurs above this level, there is potential for the wave to develop towards 143.17.</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/USDCHFH1-8.png" alt="USD/CHF, US Dollar vs Swiss Franc" class="wp-image-15362" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-8.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/USDCHFH1-8-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The USD/CHF currency pair is forming a consolidation range around 0.8984, with a potential extension to 0.8944, followed by a rise to 0.9030. In the event of an upward breakout from this range, there is potential for the wave to reach 0.9109 as a local target.</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/AUDUSDH1-8.png" alt="AUD/USD, Australian Dollar vs US Dollar" class="wp-image-15363" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-8.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSDH1-8-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The AUD/USD currency pair has completed a declining wave structure at 0.6752. A correction to 0.6802 is anticipated today (a test from below). Subsequently, a decline to 0.6727 is expected as a local target.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1594" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-10.png" alt="BRENT" class="wp-image-15364" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-10.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-10-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-10-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/BRENTH1-10-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The 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> price continues to develop within a consolidation range around 75.70. At certain points, the market has extended the range to 77.05 and then downwards to 74.74. Today, there is a possibility of an upward breakout towards 78.50 as a local target.</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/XAUUSDH1-8.png" alt="XAU/USD, Gold vs US Dollar" class="wp-image-15365" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-8.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-8-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-8-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/XAUUSDH1-8-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>Gold has concluded a wave of decline at 1929.80. Today, the market may experience a correction towards 1942.42 (a test from below). Subsequently, a decline to 1927.47 is expected, with the potential for the trend to continue towards 1918.00. After reaching this level, a correction towards 1940.00 is possible, followed by a decline to 1914.50.</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/US500CashH4-7.png" alt="S&P 500" class="wp-image-15366" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-7.png 1594w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/06/US500CashH4-7-1536×681.png 1536w" sizes="(max-width: 1594px) 100vw, 1594px" /></figure><p>The S&P 500 stock index has completed a declining wave structure at 4371.0. A correction towards 4411.0 could be expected today, followed by a decline to 4357.0. In the event of a downward breakout from this range, there is potential for a decline to 4300.0 as a local target.</p>
<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a rel="nofollow" href="https://blog.roboforex.com/blog/2023/06/21/technical-analysis-forecast-june-21-2023/">Technical Analysis & Forecast – June 21, 2023</a> appeared first at <a rel="nofollow" href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>
Leave a Comment