Technical Analysis & Forecast January 12, 2024
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_12-360×360.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/metals/xauusd/" data-internallinksmanager029f6b8e52c="43" title="XAU/USD">Gold</a> Initiates a New Upward Movement. This analysis covers 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/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>, 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/2024/01/EURUSDH1-3.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19785" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>EUR/USD (Euro vs US Dollar)</figcaption></figure><p>Having concluded a growth phase at 1.0997 and a correction to 1.0930, EUR/USD is currently establishing a fresh upward structure towards 1.1010. Following this level, an anticipated decline to 1.0944 may occur, potentially extending the trend to 1.0877 as a local target.</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/GBPUSDH1-3.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19786" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>GBP/USD (Great Britain Pound vs US Dollar)</figcaption></figure><p>After completing a decline to 1.2690, GBP/USD has initiated an upward wave reaching 1.2782. A consolidation range might form beneath this level. In the event of a downward breakout, quotes could fall to 1.2772, while an upward breakout might lead to a growth continuation to 1.2840. Subsequently, a potential decline to 1.2666 becomes 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/USDJPYH1-3.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19787" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/JPY (US Dollar vs Japanese Yen)</figcaption></figure><p>USD/JPY is currently in a declining phase towards the 144.30 level. A projected correction to 145.35 may follow, succeeded by a trend-driven decline to 142.88, serving as a local 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/USDCHFH4.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19788" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>USD/CHF (US Dollar vs Swiss Franc)</figcaption></figure><p>USD/CHF is in the midst of a consolidation range around 0.8530, with expectations for an upward extension to 0.8598. This marks the initial target, followed by a potential correction to 0.8457.</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/AUDUSDH1-3.png" alt="" class="wp-image-19792" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>AUD/USD (Australian Dollar vs US Dollar)</figcaption></figure><p>Continuing its upward trajectory to 0.6720, AUD/USD may experience a subsequent decline to 0.6680, leading to a potential extension of the trend to 0.6640 as a local target.</p>
<h2>BRENT</h2>
<figure><img loading="lazy" decoding="async" width="1596" height="716" src="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-3.png" alt="BRENT" class="wp-image-19789" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>BRENT</figcaption></figure><p>After completing an upward phase to 73.46, Brent is forming a consolidation range. An expected upward breakout could propel the growth wave to 83.11, serving as a local target. Subsequently, corrections to 79.50 may precede a further rise 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/XAUUSDH4-3.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19790" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>XAU/USD (Gold vs US Dollar)</figcaption></figure><p>Gold has concluded a correction to 2013.22 and initiated a new upward wave to 2071.45, constituting the first target. Following this, a potential correction to 2045.00 may transpire, paving the way for a rise to 2099.00. The trend could then continue to 2131.80.</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/US500CashH1-2.png" alt="S&P 500" class="wp-image-19791" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-2.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-2-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-2-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-2-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption>S&P 500</figcaption></figure><p>Having completed a decline to 4738.0 and a correction to 4783.8, the S&P 500 index may form a consolidation range beneath this level. A downward breakout holds the potential for a decline wave to 4689.5, representing a local target.</p>
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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/01/12/technical-analysis-forecast-january-12-2024/">Technical Analysis & Forecast January 12, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>
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