Technical Analysis & Forecast September 21, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_15-360×360.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/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a> Continues Its Decline – An Overview Including <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>, 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="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-14.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-18052" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD found support at 1.0670 and experienced a corrective rise to 1.0735. After reaching this level, considering the current fundamental background, the market initiated a new downward wave in line with the downtrend. The quotes have completed a downward impulse to 1.0616. Presently, the market is consolidating above this level. A downward breakout from this range to 1.0575 is anticipated, from where the <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> may continue to 1.0555.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-14.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-18051" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD completed a correction to 1.2415 and began a downtrend. The quotes have currently reached the 1.2304 level. The market is forming a consolidation range above it today. The quotes are expected to break the range downwards and extend it to 1.2233, from where the wave could progress to 1.2188.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img decoding="async" loading="lazy" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-14.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-18050" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY completed an upward link to 148.33. Presently, the market is forming a consolidation range around this level. The quotes are expected to break the range upwards to 149.19, from where the trend could continue to 149.44.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img decoding="async" loading="lazy" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-14.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-18049" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF completed a correction wave to 0.8933. Next, the price underwent a growth wave to 0.9000. The market is currently forming a consolidation range under this level. An upward breakout from the range to 0.9035 is expected, from where the trend could extend to 0.9053. Subsequently, a correction to 0.8933 might initiate.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-14.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-18048" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD completed a correction at 0.6510. Today, the market continues to develop a new downward wave. Presently, the market has completed a downward impulse to 0.6404. The decline might extend to 0.6373, from where the trend could proceed to 0.6333.</p>
<h2>BRENT</h2>
<figure><img decoding="async" loading="lazy" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-3.png" alt="BRENT" class="wp-image-18047" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent is continuing its correction to 91.41. Following this level, a new upward wave to 97.07 could commence, from where the trend might extend to 103.75.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-14.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-18046" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold completed a correction to 1947.00. Presently, the market has completed a downward impulse to 1924.14. At the moment, a consolidation range is forming above this level. A downward breakout from the range to 1910.30 is expected, from where the trend could continue to 1901.33.</p>
<h2>S&P 500</h2>
<figure><img decoding="async" loading="lazy" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-14.png" alt="S&P 500" class="wp-image-18045" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-14.png 1596w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-14-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-14-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-14-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&P 500</figcaption></figure><p>The stock index corrected to 4465.0 and initiated a new downward wave. As of now, the pair has completed a declining impulse to 4402.2. A consolidation range is forming around this level today. A downward breakout from the range to 4339.3 is expected, from where the trend might extend to 4286.9. This is a local target.</p>
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