Technical Analysis & Forecast January 11, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_11-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Technical Analysis &amp; 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> is in the midst of a correction. This overview also delves into 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&amp;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/2024/01/EURUSDH1-2.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19771" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>The EUR/USD pair has broken the 1.0966 level upwards and is constructing a growth structure to 1.1000. Following this level, there might be a decline to 1.0966 (a test from above). Subsequently, another growth structure to 1.1010 could emerge, succeeded by a new decline wave to 1.0866.</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/2024/01/GBPUSDH1-2.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19772" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>GBP/USD has surpassed the 1.2733 level upwards and is currently in the process of a corrective structure towards 1.2790. After the correction concludes, a new decline wave to 1.2751 might commence. This is 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/USDJPYH1-2.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19778" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>The USD/JPY pair has completed a growth wave to 145.81, and a correction to 144.90 is anticipated today. Following the correction, a new growth wave to 146.44 could initiate. This is the first target.</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/2024/01/USDCHFH1-2.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19773" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is persisting in a consolidation range under 0.8527, and today the range is expected to extend downwards to 0.8455. Next, a growth wave to 0.8598 might commence. This is 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/AUDUSDH1-2.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19774" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>AUD/USD has concluded a growth structure at 0.6723. A narrow consolidation range might manifest around this level today. If there's an upward escape, the corrective wave to 0.6767 might persist. After the correction, a new decline wave to 0.6600 could commence following the trend.</p>

<h2>BRENT</h2>

<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-2.png" alt="BRENT" class="wp-image-19775" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>Brent is evolving within a consolidation range around 77.65 without any pronounced trend. A growth link to 79.24 might shape up today, and upon breaking this level upwards, the potential for a wave to 83.00 might unfold, from where the trend could extend to 84.00.</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/XAUUSDH4-2.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19776" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold is progressing with a decline wave to 2014.80. Once it reaches this level, a new growth wave to 2051.65 might initiate. Breaking this level upwards as well could signify the continuation of the trend to 2131.78.</p>

<h2>S&amp;P 500</h2>

<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-1.png" alt="S&amp;P 500" class="wp-image-19777" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-1-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&amp;P 500</figcaption></figure><p>The stock index is currently in the process of developing a growth structure to 4795.0. After reaching this level, a new consolidation range might form below this level. If there's a downward escape, a correction to 4725.0 might commence. An upward escape could lead to a price rise to 4805.0, from where the trend might extend to 4900.0.</p>

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