Technical Analysis & Forecast 26.01.2024

EURUSD, “Euro vs US Dollar”

EURUSD has completed a wave of correction to 1.0900 and a new decline wave to 1.0821. Today the quotes might correct the previous decline wave. The correction target is the 1.0860 level. Once it is reached, the next decline wave to 1.0790 could begin. This is the first target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a decline wave to 1.2727 (a test from below). Once this correction is over, a new decline wave to 1.2661 could start. And if this level also breaks, the trend might continue to 1.2600. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming a consolidation range around 147.67 without any expressed trend. With a downward escape, the correction might extend to 146.60. And an upward escape could lead to the growth wave continuation to 149.16.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a growth wave to 0.8683. Today the market could form a correction link to 0.8655. Once this correction is over, the growth wave is expected to continue to 0.8717, from where the trend might extend to 0.8766.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues forming a consolidation range around 0.6585. With an escape downwards, the potential for a wave to 0.6555 could open. This is the first target. Once this level is reached, a growth link to 0.6585 is not excluded (a test from below). Next, a decline to 0.6533 might follow. This is a local target.

BRENT

Brent has completed a growth structure to 82.54. Today the market has corrected to 81.92. Currently, a consolidation range is forming above this level. An upward escape and wave extension to 83.00 is expected, from where the trend could continue to 83.35. With an escape downwards, the correction could extend to 81.00. Next, the growth wave might continue to 83.35. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold continues developing a consolidation range under 2023.23. Today the price might decline to 2005.55, later rising to 2023.00. Once this level is reached, a new decline wave to 1991.10 might follow, from where the trend could continue to 1976.50.

S&P 500

The stock index today continues developing a consolidation range around 4871.5. With an escape from the range downwards, a decline wave to 4784.4 might begin. This is the first target.