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Gold is in a consolidation phase before a potential decline. This overview also covers the latest developments in EUR, GBP, JPY, CHF, AUD, Brent, and the S&P 500 index.

EUR/USD (Euro vs US Dollar)

EUR/USD has completed a downward wave, reaching 1.0859. The market is currently consolidating above this level, with a potential range extension to 1.0899. However, a decline to 1.0821 is anticipated, followed by further downside movement to 1.0744.

GBP/USD (Great British Pound vs US Dollar)

GBP/USD is experiencing a consolidation phase around 1.2628. If the range breaks downward, it may lead to a decline wave towards 1.2540, and potentially continuing to 1.2497.

USD/JPY (US Dollar vs Japanese Yen)

USD/JPY has completed an upward wave, reaching 145.03. A decline to 143.93 could occur today, and if this level is broken, it may lead to a drop towards 143.30.

USD/CHF (US Dollar vs Swiss Franc)

USD/CHF is currently consolidating within a range around 0.8983, without a clear trend. A potential upward movement to 0.9024 is possible today, and a break above this level could open the door for a rise towards 0.9055, which is a local target.

AUD/USD(Australian Dollar vs US Dollar)

AUD/USD is forming a consolidation range around 0.6612. The range could extend to 0.6650 today, but a subsequent decline to 0.6587 is expected. The downward trend might then continue towards 0.6565.

BRENT

Brent has completed an upward wave, reaching 74.60. The market is currently consolidating around this level. If the price breaks above this range, the wave could continue towards 77.34, and potentially extend to 81.60.

XAU/USD (Gold vs US Dollar)

Gold has completed a downward wave, reaching 1893.00. A correctional move to 1913.00 has formed, and the market is currently consolidating below this level. The range is expected to extend to 1902.85. If the price breaks out above the range, the correction might continue towards 1936.85. Conversely, a break below the range could initiate a new wave of decline towards 1891.00.

S&P 500

The stock index has completed an upward wave, reaching 4380.0. A consolidation range has formed around this level. Today, the market suggests a potential breakout above the range, extending the upward structure to 4423.8. After reaching this level, a new wave of decline towards 4310.0 is expected to commence.

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The post Technical Analysis & Forecast for June 30, 2023 appeared first at R Blog - RoboForex.

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By: Igor Sayadov
Title: Technical Analysis & Forecast for June 30, 2023
Sourced From: blog.roboforex.com/blog/2023/06/30/technical-analysis-forecast-for-june-30-2023/
Published Date: Fri, 30 Jun 2023 08:37:06 +0000

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