Technical Analysis & Forecast 19.01.2024

19.01.2024

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline structure to 1.0845. Today the market has corrected to 1.0888 (a test from below). Next, a new decline wave to 1.0838 is expected, after which a cosolidation range might form. With an escape downwards, the potential for a decline wave to 1.0733 could open.

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 correction wave to 1.2711. Today the market is forming a consolidation range under this level. With an escape downwards, a new decline wave to 1.2646 might open. And if this level also breaks, 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 148.44. A correction to 148.08 is not excluded today. Once it is over, a growth wave to 149.19 could develop. 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 0.8693. Currently, the market is forming a consolidation range around this level. A correction link to 0.8633 is not excluded, followed by a rise to 0.8705. 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 correction wave to 0.6588. Today the market is forming a consolidation range under this level. The range extension to 0.6590 is not excluded, followed by a rise to 0.6545. And if this level also breaks downwards, the potential for a wave to 0.6498 might open.

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

BRENT

Brent has completed a growth structure to 79.34. Today the market is forming a consolidation range under this level. A correction link to 78.70 is not excluded. Next, a growth link to 82.12 might form, from where the trend could continue 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 has formed a decline structure to 2001.75. Once this level is reached, a correction to 2025.25 might follow (a test from below). Today a new decline structure to 1988.05 could develop. This is a local target.

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 correction to 4784.7. A new decline wave to 4713.3 might start forming today. This is the first target. Once this level is reached, a correction link to 4748.8 is not excluded, followed by a decline to 4677.5. 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.