Technical Analysis & Forecast September 11, 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" style="margin-bottom: 15px;" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a> May Continue Its Correction: An Overview of <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, <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/EURUSDH1-6.png" alt="EUR/USD (Euro vs. US Dollar)" class="wp-image-17911" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>EUR/USD (Euro vs. US Dollar)</figcaption></figure><p>EUR/USD is currently consolidating around 1.0717. There's a possibility of the market extending this range to 1.0750 today. The correction could continue up to 1.0790 (with a potential test from below). Following this correction, a new decline to 1.0680 is anticipated as a local target. After reaching this level, a fresh wave of growth towards 1.0900 might commence.</p>
<h2>GBP/USD (British 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/GBPUSDH1-6.png" alt="GBP/USD (British Pound vs. US Dollar)" class="wp-image-17909" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>GBP/USD (British Pound vs. US Dollar)</figcaption></figure><p>The British Pound (GBP/USD) is in a consolidation phase around 1.2490. Today, the market might expand this range to 1.2534. The correction could extend up to the 1.2580 level (with a potential test from below). Subsequently, a decline to 1.2425 is expected as a local target. Following that, a new wave of growth towards 1.2720 might initiate.</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/USDJPYH1-6.png" alt="USD/JPY (US Dollar vs. Japanese Yen)" class="wp-image-17908" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/JPY (US Dollar vs. Japanese Yen)</figcaption></figure><p>USD/JPY has broken downwards from the 146.60 level and could develop a correction to 145.92. Today, the price is expected to reach this level and then return to 146.60 (with a potential test from below). Subsequently, a decline to 145.28 might follow, after which a new upward move towards 148.70 is anticipated.</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/USDCHFH1-6.png" alt="USD/CHF (US Dollar vs. Swiss Franc)" class="wp-image-17910" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>USD/CHF (US Dollar vs. Swiss Franc)</figcaption></figure><p>USD/CHF is currently forming a consolidation range around 0.8917 without a strong <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>. Today, this range might extend to 0.8888 (with a potential test from above). Once the quotes reach this level, a rise to 0.8990 could follow. Subsequently, a downward wave towards 0.8800 might begin.</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/AUDUSDH1-6.png" alt="AUD/USD (Australian Dollar vs. US Dollar)" class="wp-image-17907" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/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 broken upwards from the 0.6514 level, after which the correction could continue to 0.6456. Once this level is reached, a decline to 0.6415 is not excluded (with a potential test from above). Subsequently, an upward move towards 0.6472 might occur, followed by a decline to 0.6334.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1593" height="707" src="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-7.png" alt="BRENT" class="wp-image-17906" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-7.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-7-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-7-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH1-7-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>BRENT</figcaption></figure><p>Brent is currently forming a consolidation range around 90.00. Today, this range might extend to 91.08. Following this extension, a decline to 90.00 is expected, followed by a rise to 92.22. From there, the trend could continue towards 93.20, which 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/2023/09/XAUUSDH1-6.png" alt="XAU/USD (Gold vs. US Dollar)" class="wp-image-17905" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>XAU/USD (Gold vs. US Dollar)</figcaption></figure><p>Gold has broken upwards from the 1923.20 level and might continue the correction to 1929.90. Afterward, a decline to 1923.20 is expected (with a potential test from above), followed by a rise to 1932.00. Following this level, a decline to 1903.33 might occur.</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/US500CashH1-6.png" alt="S&P 500" class="wp-image-17904" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-6.png 1593w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-6-360×160.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-6-768×341.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-6-1536×682.png 1536w" sizes="(max-width: 1593px) 100vw, 1593px" /><figcaption>S&P 500</figcaption></figure><p>The S&P 500 stock index has formed a consolidation range around 4458.2. A move upwards to 4486.6 could develop today, which is the first target. After reaching this level, a correction towards 4500.0 is not excluded, followed by a new wave of decline to 4400.0.</p>
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