Technical Analysis & Forecast January 17, 2024
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/TA_15-360×360.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/usdchf/" data-internallinksmanager029f6b8e52c="39" title="USD/CHF">CHF</a> Poised for Extended Growth. This technical analysis encompasses the evolving 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/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/2024/01/EURUSDH4-1.png" alt="EUR/USD (Euro vs US Dollar)" class="wp-image-19843" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH4-1.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH4-1-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH4-1-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/EURUSDH4-1-1536×689.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 decline wave to 1.0882. Presently, the market has established a consolidation range around this level. Breaking the range downward, the development of the wave to 1.0765 is underway, constituting a local target. Upon reaching this level, the possibility of a correction link to 1.0882 is not excluded, followed by a decline to 1.0630.</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/GBPUSDH1-6.png" alt="GBP/USD (Great Britain Pound vs US Dollar)" class="wp-image-19844" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/GBPUSDH1-6-1536×689.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 completed a decline wave to 1.2608. Anticipating the formation of a consolidation range around this level, a downward breakout could signal a trend continuation to 1.2433, constituting 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/USDJPYH1-6.png" alt="USD/JPY (US Dollar vs Japanese Yen)" class="wp-image-19845" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDJPYH1-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>USD/JPY (US Dollar vs Japanese Yen)</em></figcaption></figure><p>USD/JPY has concluded a growth wave to 146.88. A consolidation range has materialized around this level. An upward breakout has opened the potential for a growth wave to 149.07, marking a local 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/USDCHFH4-3.png" alt="USD/CHF (US Dollar vs Swiss Franc)" class="wp-image-19846" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-3.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-3-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-3-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/USDCHFH4-3-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>USD/CHF (US Dollar vs Swiss Franc)</em></figcaption></figure><p>USD/CHF has completed a growth wave to 0.8585. Currently, a consolidation range is evident around this level. An upward breakout suggests a continuation of the trend to 0.8684, constituting a local 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/AUDUSDH1-6.png" alt="AUD/USD (Australian Dollar vs US Dollar)" class="wp-image-19847" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/AUDUSDH1-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>AUD/USD (Australian Dollar vs US Dollar)</em></figcaption></figure><p>AUD/USD has concluded a decline wave to 0.6612. Presently, the market has formed a consolidation range around this level. Breaking the range downward, it continues developing the wave to 0.6523. Upon reaching this level, a potential correction link to 0.6612 might form, followed by a decline 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/BRENTH4-6.png" alt="BRENT" class="wp-image-19848" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/BRENTH4-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>BRENT</em></figcaption></figure><p>Brent is in the process of forming a consolidation range around 78.60. An upward breakout from the range might extend the growth wave to 82.82, constituting 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/XAUUSDH4-6.png" alt="XAU/USD (Gold vs US Dollar)" class="wp-image-19849" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-6.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-6-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-6-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/XAUUSDH4-6-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>XAU/USD (Gold vs US Dollar)</em></figcaption></figure><p>Gold is continuing to form a decline wave to 2014.20. Upon reaching this level, a narrow consolidation range might develop around it. A downward breakout from the range could lead to a decline wave to 1967.00, from where the trend might extend to 1940.00.</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/US500CashH1-5.png" alt="S&P 500" class="wp-image-19850" srcset="https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-5.png 1596w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-5-360×162.png 360w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-5-768×345.png 768w, https://blog.roboforex.com/wp-content/uploads/2024/01/US500CashH1-5-1536×689.png 1536w" sizes="(max-width: 1596px) 100vw, 1596px" /><figcaption><em>S&P 500</em></figcaption></figure><p>The stock index is continuing to develop a wave to 4737.0. Once this level is reached, a narrow consolidation range could form. With a downward breakout from the range, the wave might continue to 4705.0, constituting a local target.</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/2024/01/17/technical-analysis-forecast-january-17-2024/">Technical Analysis & Forecast January 17, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>
Leave a Comment