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CHF Poised for a Potential Uptrend. Also, Insights on EUR, GBP, JPY, AUD, Brent, Gold, and the S&P 500 Index.
EUR/USD (Euro vs US Dollar)
![EUR/USD (Euro vs US Dollar)](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221171.jpg)
EUR/USD (Euro vs US Dollar)EUR/USD found support at 1.0783 and initiated an upward move to 1.0836. The market then formed a consolidation range around this level. Breaking out of this range to the upside, it continued the correction to 1.8900. Today, a downward move to 1.0840 (with a test from above) is expected. Subsequently, another corrective phase to 1.0907 might occur. At this point, the corrective potential will likely be exhausted, leading to a new downward wave targeting 1.0780 and possibly extending to 1.0700.
GBP/USD (Great Britain Pound vs US Dollar)
![GBP/USD (Great Britain Pound vs US Dollar)](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221172.jpg)
GBP/USD (Great Britain Pound vs US Dollar)GBP/USD found support at 1.2564 and advanced to 1.2607. The market then established a consolidation range around this level. Breaking out of the range to the upside, it continued the correction to 1.2651. Today, a decline to 1.2607 (with a test from above) is anticipated. The correction could then extend to 1.2663. Following this correction, a new downward wave targeting 1.2560 might commence, potentially extending to 1.2484.
USD/JPY (US Dollar vs Japanese Yen)
![USD/JPY (US Dollar vs Japanese Yen)](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221173.jpg)
USD/JPY (US Dollar vs Japanese Yen)USD/JPY saw an upward wave to 147.35, followed by a downward wave to 145.68. Another upward move to 147.35 might occur today. A breakout above this level could open the door to a rise to 148.18.
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USD/CHF (US Dollar vs Swiss Franc)
![USD/CHF (US Dollar vs Swiss Franc)](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221185.jpg)
USD/CHF (US Dollar vs Swiss Franc)USD/CHF completed a correction to 0.8774. Today, an upward move to 0.8815 might follow (with a test from below). Subsequently, the correction might continue to 0.8757, after which a new upward wave targeting 0.8900 could start.
AUD/USD (Australian Dollar vs US Dollar)
![AUD/USD (Australian Dollar vs US Dollar)](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221186.jpg)
AUD/USD (Australian Dollar vs US Dollar)AUD/USD experienced a correction to 0.6484. A decline to 0.6444 is possible today (with a test from above). The correction could then continue to 0.6500 before the quotes potentially descend along the trend to 0.6316.
BRENT
![BRENT](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221187.jpg)
BRENTBrent broke above the 84.50 level and is continuing its upward wave to 85.73. After reaching this mark, a decline to 84.50 is possible (with a test from above), followed by a rise to 86.82. This represents a local target.
XAU/USD (Gold vs US Dollar)
![XAU/USD (Gold vs US Dollar)](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221198.jpg)
XAU/USD (Gold vs US Dollar)Gold extended its corrective wave to 1937.97. A decline to 1919.30 might occur today (with a test from above). The correction could then continue to 1953.60, with the trend potentially extending to 1904.14. This is a local target.
S&P 500
![S&P 500](https://peaceofmindinvesting.com/images/blog/thumbnails/202312/img_03121221199.jpg)
S&P 500The stock index continued its correction to 4500.0. Today, it might drop to 4428.6 (with a test from above). Subsequently, a corrective phase to 4527.5 is possible, followed by a trend-based decline to 4311.0.
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The post Technical Analysis & Forecast for August 30, 2023 appeared first at R Blog - RoboForex.
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By: Igor Sayadov
Title: Technical Analysis & Forecast for August 30, 2023
Sourced From: blog.roboforex.com/blog/2023/08/30/technical-analysis-forecast-for-august-30-2023/
Published Date: Wed, 30 Aug 2023 09:55:57 +0000
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