Technical Analysis & Forecast 24.01.2024

24.01.2024

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline wave, reaching 1.0821. Today it experienced growth momentum towards 1.0845. A narrow consolidation range has formed, and by breaking it upwards, the market continues a corrective wave to 1.0866. After the price reaches this level, a decline to 1.0845 could follow (a test from above). Subsequently, the price could rise to 1.0870 and drop to 1.0810.

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 1.2648. The market is correcting the decline today, with the correction target at 1.2713. Following the correction, the price is expected to fall to 1.2589. 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, reaching 148.69. A correction towards 147.77 has formed today. Another growth structure is expected to develop, targeting 149.17. Once the price hits this level, a decline wave to 147.00 could start.

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 0.8727. A consolidation range could form below this level today. A downward breakout will open the potential for a corrective decline to 0.8605, followed by an upward movement to 0.8763.

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, with the market undergoing a correction to 0.6585 today. A new decline wave targeting 0.6537 could start at the moment. This is a local target.

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

BRENT

Brent has undergone a correction to 79.55. The market now continues to develop a consolidation range around this level. With an upward breakout, another growth wave to 80.82 could develop, potentially extending to 81.30. 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 is currently in a consolidation phase around 2022.22 without any clear trend. Today the range could expand to 2040.40. Subsequently, a new decline structure could form, targeting 1988.00. This is the first 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 expanded a consolidation range upwards, reaching 4879.0. Nearly the entire estimated potential for growth has been reached. A new consolidation range is expected to develop around this level. With an upward breakout, the wave could continue to 4900.0. With a downward breakout, a new decline wave to 4795.0 could start. This is the first 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.