Technical Analysis & Forecast January 25, 2024
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_21-360×360.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> sustains a downtrend, and the overview includes insights into <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/EURUSDH1-12.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19965" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-12.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-12-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-12-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH1-12-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>EUR/USD (Euro vs US Dollar)</em></figcaption></figure><p>EUR/USD has concluded a correction wave, reaching 1.0931 (tested from below), and initiated a downward impulse to 1.0889, followed by a correction to 1.0907 today. The second decline impulse to 1.0862 is presently taking shape. Once this level is achieved, there could be a correction to 1.0884 (tested from below), subsequently dropping to 1.0833. This marks the first 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/GBPUSDH1-12.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19964" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-12.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-12-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-12-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-12-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>GBP/USD (Great Britain Pound vs US Dollar)</em></figcaption></figure><p>GBP/USD has shaped a correction wave to 1.2773, executed a decline impulse to 1.2733, and corrected to 1.2755 today. The second decline impulse to 1.2695 is in progress, potentially followed by a correction link to 1.2722 (tested from below). The wave might extend to 1.2675, constituting the first 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/USDJPYH1-12.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19963" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-12.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-12-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-12-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-12-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>USD/JPY (US Dollar vs Japanese Yen)</em></figcaption></figure><p>USD/JPY is forming a growth structure to 148.02. Upon reaching this level, a correction link to 147.40 is conceivable. Next, the pair could ascend to 149.17. This is the initial 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/USDCHFH4-9.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19962" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-9.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-9-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-9-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-9-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>USD/CHF (US Dollar vs Swiss Franc)</em></figcaption></figure><p>USD/CHF has concluded a correction wave to 0.8605. A growth wave to 0.8686 might unfold today. Breaking through this level could pave the way for a rise to 0.8727, from where the trend might extend to 0.8760.</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/AUDUSDH1-12.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19966" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-12.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-12-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-12-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-12-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>AUD/USD (Australian Dollar vs US Dollar)</em></figcaption></figure><p>AUD/USD has undergone a decline wave to 0.6577, and a consolidation range around this level is taking shape today. An escape from the range downward, continuing the wave to 0.6546, is anticipated. This represents a local target. Upon reaching it, a correction link to 0.6577 is plausible (tested from below), followed by a decline to 0.6536, the first 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/BRENTH1-3.png" alt="BRENT" class="wp-image-19961" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH1-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH1-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH1-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH1-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>BRENT</em></figcaption></figure><p>Brent has accomplished a growth structure to 80.72. Today, the market has corrected to 79.80. A consolidation range is forming above this level. An upward breakout and further wave development towards 81.20 are expected, from where the trend could extend to 82.55. This marks a local 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/2024/01/XAUUSDH4-12.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19960" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-12.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-12-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-12-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-12-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>XAU/USD (Gold vs US Dollar)</em></figcaption></figure><p>Gold has executed a decline wave to 2011.17. Currently, the market is forming a narrow consolidation range. A downward escape from the range could usher in a decline wave to 1993.30, followed by a correction to 2014.00 (tested from below). Subsequently, a decline to 1976.50 might manifest. This signifies 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/2024/01/US500CashH1-11.png" alt="S&P 500" class="wp-image-19959" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-11.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-11-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-11-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-11-1536×689.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 structure to 4902.0. Today, the market is forming a decline structure to 4842.5. Upon reaching this level, a correction to 4871.0 is unfolding. Subsequently, a decline to 4815.5 might follow. This constitutes a local target.</p>
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