Technical Analysis & Forecast February 05, 2024
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_4-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis & Forecast" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP</a> might extend the decline wave. The overview also encompasses the dynamics of <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a>, <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a>, <a href="https://roboforex.com/beginners/info/charts/forex/usdchf/" data-internallinksmanager029f6b8e52c="39" title="USD/CHF">CHF</a>, <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a>, <a href="https://roboforex.com/beginners/info/charts/energies/brent/" data-internallinksmanager029f6b8e52c="312" title="Brent">Brent</a>, <a href="https://roboforex.com/beginners/info/charts/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a>, and the S&P 500 index.</p>
<h2>EUR/USD (Euro vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/EURUSDH1-2.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-20120" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/EURUSDH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/EURUSDH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/EURUSDH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/EURUSDH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>EUR/USD (Euro vs US Dollar)</em></figcaption></figure><p>The EUR/USD pair has concluded a corrective wave reaching 1.0896. Currently, the market is in the process of developing a decline wave to 1.0755. After reaching this level, a correction to 1.0792 is plausible, followed by a decrease to 1.0740.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/GBPUSDH1-2.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-20119" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/GBPUSDH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/GBPUSDH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/GBPUSDH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/GBPUSDH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>GBP/USD (Great Britain Pound vs US Dollar)</em></figcaption></figure><p>The GBP/USD pair has completed a correction wave to 1.2770. Today, the decline wave might extend to 1.2555. Once this level is reached, a growth link to 1.2614 could form, followed by a decline to 1.2520.</p>
<h2>USD/JPY (US Dollar vs Japanese Yen)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/USDJPYH1-2.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-20118" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/USDJPYH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/USDJPYH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/USDJPYH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/USDJPYH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>USD/JPY (US Dollar vs Japanese Yen)</em></figcaption></figure><p>The USD/JPY pair has corrected to 145.90, and today the growth wave might extend to 148.92. After reaching this level, a correction link to 147.70 is not excluded, followed by a rise to 149.47.</p>
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<h2>USD/CHF (US Dollar vs Swiss Franc)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/USDCHFH1-2.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-20117" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/USDCHFH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/USDCHFH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/USDCHFH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/USDCHFH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>USD/CHF (US Dollar vs Swiss Franc)</em></figcaption></figure><p>The USD/CHF pair has corrected to 0.8555. Today, the market is forming the structure of a new growth wave to 0.8700. Subsequently, a correction link to 0.8650 is not excluded, followed by a rise to 0.8741.</p>
<h2>AUD/USD (Australian Dollar vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/AUDUSDH1-2.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-20116" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/AUDUSDH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/AUDUSDH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/AUDUSDH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/AUDUSDH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>AUD/USD (Australian Dollar vs US Dollar)</em></figcaption></figure><p>The AUD/USD pair has completed a growth wave to 0.6607. Today, the market continues developing a decline wave to 0.6410. After reaching this level, a correction link to 0.6509 is not excluded. Next, a new decline wave to 0.6355 could commence.</p>
<h2>BRENT</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/BRENTH4-1.png" alt="BRENT" class="wp-image-20121" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/BRENTH4-1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/BRENTH4-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/BRENTH4-1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/BRENTH4-1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>BRENT</em></figcaption></figure><p>Brent has completed a correction wave to 77.22. A consolidation range could form above this level today. With an escape from the range upwards, a new growth wave to 80.90 might commence. If this level also breaks, the wave could extend to 85.90. This is the first target.</p>
<h2>XAU/USD (Gold vs US Dollar)</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/XAUUSDH4-2.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-20115" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/XAUUSDH4-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/XAUUSDH4-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/XAUUSDH4-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/XAUUSDH4-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>XAU/USD (Gold vs US Dollar)</em></figcaption></figure><p>Gold continues developing a decline wave to 2020.20. After reaching this level, a growth link to 2067.11 is not excluded, followed by a decline to 1976.55. This is a local target.</p>
<h2>S&P 500</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/02/US500CashH1-2.png" alt="S&P 500" class="wp-image-20114" srcset="https://blog.roboforex.com/wp-content/uploads/2024/02/US500CashH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/02/US500CashH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/02/US500CashH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/02/US500CashH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>S&P 500</em></figcaption></figure><p>The stock index has completed a growth wave to 4973.9. A decline to 4903.9 might follow today. Subsequently, the market might form a correction to 4939.9 and a decline to 4831.5. This is the first target.</p>
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