Technical Analysis & Forecast January 09, 2024
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_9-360×360.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/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a> may undergo a correction in the current declining wave. The overview also encompasses the dynamics of <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP</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 decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19753" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>EUR/USD has completed the initial decline wave to 1.0877. Today, a consolidation range around 1.0942 is conceivable. An upward breakout could lead to a correction to at least 1.1010, while a downward breakout may extend the wave further to 1.0750. This represents a local target.</p>
<h2>GBP/USD (Great Britain Pound vs US Dollar)</h2>
<figure><img decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19751" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has finished a decline wave to 1.2611 and a correction to 1.2769. An anticipated consolidation range is expected around 1.2735. An upward breakout may extend the correction to 1.2790, whereas a downward breakout opens the potential for a new decline wave to 1.2570. A breach of this level could further the decline to 1.2377, representing a local target.</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/2024/01/USDJPYH1.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19750" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY has completed a growth wave to 145.95, marking a local target. Today, a correction extending to 142.61 is expected. After completion, a new growth wave to 146.40 could evolve, representing the first target.</p>
<div>
<div>
<div>
<p><span>1,000,000 USD</span> RoboForex partner promotion!</p>
<p>Learn more about the participation conditions and join the cash prize draws</p>
</div>
<div>
<img decoding="async" class="block-banner__image block-banner__image_mobile" src="https://blog.roboforex.com/wp-content/uploads/2023/09/r-mobile.png" alt="partner-promotion" /></div>
<a href="https://roboforex.com/clients/promotions/partners-promo-2023/" target="_blank" rel="noopener">Join and Win</a>
</div>
<div>
<img decoding="async" class="block-banner__image block-banner__image_desktop" src="https://blog.roboforex.com/wp-content/uploads/2023/09/r-desktop.png" alt="partner-promotion" /></div>
</div>
<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/2024/01/USDCHFH1.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19749" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF has completed a growth wave structure to 0.8574, marking a local target. Currently correcting to 0.8455, a consolidation range is forming above this level today. A downward breakout might extend the correction to 0.8410, while an upward breakout could propel the growth wave to 0.8600, representing the first target.</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/2024/01/AUDUSDH1.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19748" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has completed a decline wave to 0.6644 and a correction to 0.6746. A consolidation range is expected around 0.6720 today. An upward breakout may extend the correction to 0.6768, while a downward breakout opens the potential for a decline wave to 0.6640. A breach of this level could continue the trend to 0.6500.</p>
<h2>BRENT</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4.png" alt="BRENT" class="wp-image-19752" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent is still developing a consolidation range around 78.93. An upward breakout might open the potential for a growth wave to 83.15, extending the trend to 91.50. Conversely, a downward breakout could continue the correction to 70.00, after which a new growth wave to 95.00 might commence.</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/2024/01/XAUUSDH4.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19747" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has completed a growth wave at 2088.30. Today's correction might extend to 2015.66. Afterward, a growth wave to 2130.60 could commence, representing the first 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/2024/01/US500CashH1.png" alt="S&P 500" class="wp-image-19746" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&P 500</figcaption></figure><p>The stock index is still developing a consolidation range around 4725.5. Today, it might expand to 4770.0. Subsequently, a correction to 4725.5 (a test from above) could occur. Once the correction concludes, a growth link to 4786.0 is anticipated.</p>
<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/01/09/technical-analysis-forecast-january-09-2024/">Technical Analysis & Forecast January 09, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>
Leave a Comment