Technical Analysis & Forecast 27.12.2023
EURUSD, “Euro vs US Dollar”
EURUSD has completed a growth wave to 1.1044. A correction link to 1.1025 is not excluded today. Next, the growth wave might extend to 1.1056. Once this level is reached, a correction to 1.0993 might start, followed by a rise to 1.1088.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is forming a consolidation range around 1.2720. A growth structure to 1.2747 is not excluded. Once this level is reached, a correction to 1.2720 is expected. Next, a growth link to 1.2765 might follow.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY continues developing a consolidation range around 142.50 without any obvious trend. With an escape upwards, a correction to 143.43 could follow. With a downward escape, the potential for a decline wave to 140.00 might open. This is a local target.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has completed a decline wave to 0.8537. A consolidation range is now forming around this level. With an escape downwards, the potential for a decline to 0.8508 might open. Once this level is reached, a new growth wave to 0.8647 could start, from where the trend could continue to 0.8784.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed a growth wave to 0.6840. A decline impulse to 0.6800 could begin today. With a breakout of this level, the potential for a decline wave to 0.6733 might open. This is the first target.
BRENT
Brent has broken the 80.55 level upwards, completing the growth structure to 81.56. A correction link to 80.55 might follow (a test from above) with a rise to 83.00. This is the first target.
XAUUSD, “Gold vs US Dollar”
Gold continues developing a growth wave to 2079.80. Once this level is reached, a correction to 2045.76 might follow (a test from above). Next, a link of growth to 2118.00 is expected.
S&P 500
The stock index has completed a growth wave to 4790.0. A consolidation range is expected to form under this level. With a downward escape, a new decline wave to 4742.5 could begin. This is the first target.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.