||

CHF Poised for Further Upside - Analysis of EUR, GBP, JPY, AUD, Brent, Gold, and the S&P 500 Index.

EUR/USD (Euro vs US Dollar)

The EUR/USD currency pair has broken above the consolidation range, completing a growth pattern to the 1.1010 level. Today, a declining wave to 1.0925 could develop. Following this level, a potential rise to 1.0955 (a test from below) is possible, followed by a decline to 1.0899. This is the estimated target for the pair.

GBP/USD (Great Britain Pound vs US Dollar)

The GBP/USD currency pair has completed a corrective wave to the 1.2832 level and has started to form another wave of decline. The market has formed a consolidation range around the 1.2741 level. Today, the range has extended downwards to the 1.2696 level. An upward move to the 1.2741 level (a test from below) is not excluded, followed by a decline to 1.2646, with the potential for the trend to continue to 1.2588.

USD/JPY (US Dollar vs Japanese Yen)

The USD/JPY currency pair continues to develop an upward wave towards the 143.50 level. Today, it could reach the 143.42 level. A decline to 142.55 might follow, followed by a rise to the 143.50 level. After reaching this level, a correction to the 141.66 level may occur. Following the completion of the correction, a wave of growth towards 144.88 is expected.

USD/CHF (US Dollar vs Swiss Franc)

The USD/CHF currency pair has completed a wave of growth to the 0.8955 level. Today, the market is forming a consolidation range around this level. An upward breakout to the 0.8990 level is expected. Another downward movement to 0.8966 might follow, followed by a rise to 0.9000, with the potential for the trend to continue to the 0.9040 level.

AUD/USD (Australian Dollar vs US Dollar)

The AUD/USD currency pair has formed a wave of decline to the 0.6691 level. Today, a consolidation range above this level could develop. An upward breakout may lead to a correction to the 0.6757 level, while a downward breakout may indicate a continuation of the trend towards the 0.6622 level.

BRENT

Brent crude oil continues to form a consolidation range around the 76.00 level. Today, the range has extended downwards to the 73.33 level. A rise to 78.48 is expected, with a potential breakout above this level leading to a continuation of the trend towards the 80.50 level. This is a local target for Brent.

XAU/USD (Gold vs US Dollar)

Gold continues to form a consolidation range around the 1917.00 level. Today, the range has extended downwards to the 1909.90 level. A rise to 1917.00 (a test from below) is expected, followed by a decline to the 1905.55 level. A downward breakout from this range could indicate a continuation of the trend towards the 1901.00 level, while an upward breakout may lead to a correction to 1936.66.

S&P 500

The S&P 500 stock index continues to form a consolidation range around the 4379.0 level. Today, a decline to 4336.0 is possible. An upward move to the 4379.0 level (a test from below) could follow, followed by a decline to the 4300.0 level. This serves as a local target for the index.

The post Technical Analysis & Forecast for June 23, 2023 appeared first at R Blog - RoboForex.

-----------------------------------------------------

By: Igor Sayadov
Title: Technical Analysis & Forecast for June 23, 2023
Sourced From: blog.roboforex.com/blog/2023/06/23/technical-analysis-forecast-for-june-23-2023/
Published Date: Fri, 23 Jun 2023 11:00:28 +0000

Read More