Technical Analysis & Forecast 17.01.2024

17.01.2024

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline wave to 1.0882. Today the market has formed a consolidation range around this level and, breaking the range downwards, continues developing the wave to 1.0765. This is a local target. Once this level is reached, a correction link to 1.0882 is not excluded, followed by a decline to 1.0630.

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 has completed a decline wave to 1.2608. A consolidation range is expected to form around this level and, breaking the boundary downwards, the trend could continue to 1.2433. This is a local target.

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 wave to 146.88. A consolidation range has formed around this level today and, escaping it upwards, has opened the potential for a growth wave to 149.07. This is a local target.

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 completed a growth wave to 0.8585. By now, the market has formed a consolidation range around this level and, escaping it upwards, it suggests trend continuation to 0.8684. This is a local target.

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 0.6612. By now, the market has formed a consolidation range around this level and, escaping the range downwards, it continues developing the wave to 0.6523. Once this level is reached, a correction link to 0.6612 could form, followed by a decline to 0.6500.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent continues forming a consolidation range around 78.60. Escaping the range upwards, the growth wave might extend to 82.82. This is a local target.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold continues forming a decline wave to 2014.20. Once this level is reached, a narrow consolidation range might develop around it. With an escape from the range downwards, the decline wave to 1967.00 might form, from where the trend could extend to 1940.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index continues developing a wave to 4737.0. Once this level is reached, a narrow consolidation range could form. With a downward escape from the range, the wave might contninue to 4705.0. This is a local target.

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

Attention!

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.