Technical Analysis & Forecast September 27, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_19-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>Brent Continues Its 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>: This overview also encompasses the dynamics 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>, <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><a></a>EUR/USD (Euro vs US Dollar)</h2>
<figure><img decoding="async" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-19.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-18189" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/EURUSDH1-19-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has completed a downward wave, reaching 1.0555. Today, a consolidation range may develop above this level. A potential rise to 1.0612 (a test from below) cannot be ruled out, followed by a decline to 1.0494, possibly extending to 1.0450. This marks a local target.</p>
<h2><a></a>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-19.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-18190" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/GBPUSDH1-19-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD is maintaining its downward trajectory towards 1.2130. After reaching this level, a correction to 1.2220 (a test from below) might initiate, followed by a decline to 1.2020.</p>
<h2><a></a>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-19.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-18191" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDJPYH1-19-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY continues its upward trajectory to 149.29. Following this achievement, a correction to 148.62 could follow, eventually leading to a rise to 149.94.</p>
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<h2><a></a>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-19.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-18192" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-19.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-19-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-19-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/USDCHFH1-19-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is experiencing a growth wave towards 0.9200. Once this level is attained, a correction to 0.9109 may develop, followed by an ascent to 0.9284. This represents a local target.</p>
<h2><a></a>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-17.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-18193" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-17.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-17-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-17-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/AUDUSDH1-17-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD is maintaining its downward movement towards 0.6323. After hitting this level, a corrective rise to 0.6393 (a test from below) might occur. Subsequently, a drop to 0.6276 could take place, 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 extend to 0.6200.</p>
<h2><a></a>Brent</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-7.png" alt="Brent" class="wp-image-18194" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-7.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-7-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-7-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/BRENTH4-7-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>Brent</figcaption></figure><p>Brent has corrected to 90.42. Today, the market is extending an upward wave to 93.73. A breakthrough of this level could pave the way for a movement towards 97.07. After reaching this level, a corrective phase to 93.75 may form, followed by a rise to 104.40.</p>
<h2><a></a>XAU/USD (Gold vs US Dollar)</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-18.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-18195" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-18.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-18-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-18-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/XAUUSDH1-18-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is maintaining its downward trajectory towards 1891.44. Following this, the price may rise to 1910.40 (a test from below) and then decline to 1877.20. From there, the trend might continue towards 1864.00.</p>
<h2><a></a>S&P 500</h2>
<figure><img decoding="async" loading="lazy" width="1592" height="705" src="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-18.png" alt="S&P 500" class="wp-image-18196" srcset="https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-18.png 1592w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-18-360×159.png 360w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-18-768×340.png 768w, https://blog.roboforex.com/wp-content/uploads/2023/09/US500CashH1-18-1536×680.png 1536w" sizes="(max-width: 1592px) 100vw, 1592px" /><figcaption>S&P 500</figcaption></figure><p>The stock index has formed a consolidation range around 4328.5 and, breaking below it, reached 4267.3. Today, a corrective link to 4300.0 might develop, followed by a decline to 4193.3. The trend could potentially expand towards 4137.0. This signifies a local target.</p>
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