Technical Analysis & Forecast 30.01.2024

30.01.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair has completed a decline wave to 1.0795. Today the market is forming a correction wave to 1.0850. Once this level is reached, the decline wave is expected to continue to 1.0790. This is a local target.

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 1.2662. A correction to 1.2730 is forming today. Once the correction is over, a new decline wave to 1.2650 is expected, from where the trend might extend to 1.2575.

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

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair has corrected to 147.65. By now, a consolidation range has formed around this level. Another decline structure to 146.96 is not excluded. Next, a rise to 148.82 is expected. 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 continues developing a consolidation range above 0.8607. A growth link to 0.8690 might form today. If this level also breaks upwards, the potential for a growth wave to 0.8760 might open. 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”

The AUDUSD pair continues forming a consolidation range around 0.6594. By now, the market has extended the range upwards to 0.6623. A decline link to 0.6594 could follow today. Next, a new correction wave to 0.6636 is not excluded. A decline to 0.6555 might follow. 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 completed a correction structure to 81.90. Today the market is forming a consolidation range above this level. With an escape from the range upwards, the growth wave is expected to continue to 84.22. Once this level is reached, a correction link to 83.40 is not excluded. Next, the trend might extend to 85.55. 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 developing a consolidation range around 2022.22. A growth link to 2040.90 could form today, followed by a decline link to 2005.55. After a breakout of this level, a new decline structure to 1991.10 could follow, from where the trend might extend to 1976.50.

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 consolidation range around 4880.0. With an escape from the range upwards, the growth structure might extend to 4936.6. Next, a decline wave to 4860.0 might begin. And if this level also breaks downwards, the potential for a wave to 4785.0 could open. 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.