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Technical Analysis & Forecast 12.12.2023

EURUSD, “Euro vs US Dollar”

EURUSD continues developing a consolidation range around 1.0770. After an escape upwards, a correction link to 1.0800 might follow. With an escape downwards, the potential for a decline wave to 1.0705 could open. Provided this level also breaks, the trend might continue to 1.0600. This is the first target.

Technical Analysis & Forecast 12.12.2023 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues forming a consolidation range around 1.2555. A growth link to 1.2595 is not excluded, followed by a decline to 1.2470. This is the first target. Upon reaching this one, a correction link to 1.2595 could follow (a test from below).

Technical Analysis & Forecast 12.12.2023 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a growth structure to 146.57. Today the market might correct to 144.88 (a test from above). Next, a growth structure to 147.30 might develop. This is a local target.

Technical Analysis & Forecast 12.12.2023 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has corrected to 0.8767. A consolidation range is expected to form around this level today. With an escape from it downwards, the correction could continue to 0.8727. With an escape upwards, the growth wave might extend to 0.8825, from where the trend could continue to 0.8880. This is the first target.

Technical Analysis & Forecast 12.12.2023 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a decline wave to 0.6550. Today a growth link to 0.6595 has formed. Practically, a wide consolidation range might develop around 0.6570. With a downward escape, the potential for a decline to 0.6490 could open. With an upward escape, the correction might continue to 0.6650. Next, the decline wave could go by the trend downwards to 0.6490.

Technical Analysis & Forecast 12.12.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has completed a correction link to 74.94, followed by a growth link to 76.40. This level is expected to break upwards, so that the growth wave continued to 77.44, from where the trend might extend to 80.00. This is a local target.

Technical Analysis & Forecast 12.12.2023 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed a decline wave to 1976.40. A correction link to 2007.20 (a test from below) might form today. After the correction is over, the decline wave could extend to 1948.00, from where the trend might continue to 1907.55. This is the first target.

Technical Analysis & Forecast 12.12.2023 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index has formed a consolidation range around 4609.0 and might extend the growth structure to 4638.0, escaping the range upwards. Upon reaching this level, a decline wave to 4583.0 could begin. This is the first target.

Technical Analysis & Forecast 12.12.2023 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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