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Technical Analysis & Forecast 16.02.2024

EURUSD, “Euro vs US Dollar”

EURUSD has escaped a consolidation range upwards, extending the correction wave to 1.0784. By now, the market has formed a consolidation range under this level. Today the quotes might escape the range downwards, reaching the 1.0732 level. This is the first target of a new decline wave.

Technical Analysis & Forecast 16.02.2024 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has performed a corrective wave aiming at 1.2604. A consolidation range might form under this level today. With an escape from the range downwards, the decline wave could continue to 1.2533. This is the first target of a new decline wave.

Technical Analysis & Forecast 16.02.2024 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues developing a growth wave to 150.52. Once this level is reached, the price could correct to 150.00. Next, the growth wave might extend to 151.03.

Technical Analysis & Forecast 16.02.2024 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a correction wave to 0.8787. By now, a consolidation range has formed above this level. Today the quotes might escape this range upwards, reaching 0.8840. Once this level is reached, a correction to 0.8812 is not excluded, followed by a rise to 0.8870.

Technical Analysis & Forecast 16.02.2024 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a correction wave to 0.6525. By now, a consolidation range has formed under this level. Today the price might escape the range downwards, reaching 0.6485. This is the first target in a new decline wave.

Technical Analysis & Forecast 16.02.2024 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has completed a correction wave to 80.32. By now, the market has performed a growth wave to 82.75. A consolidation range is expected to form under this level. An escape from the range upwards and wave extension to 83.66 is expected. This is a local target.

Technical Analysis & Forecast 16.02.2024 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed a correction wave to 2008.00. A consolidation range might form under this level today. With an upward escape, a growth link to 2014.00 is not excluded. With a downward escape, the decline wave could continue to 1990.00, from where the trend might continue to 1970.50.

Technical Analysis & Forecast 16.02.2024 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index has completed a correction link to 5030.0. Currently, a consolidation range is forming around this level. Today it might extend to 4977.0. With an escape upwards, a wave to 5070.0 is not excluded, followed by a decline to 5000.0. This is the first target.

Technical Analysis & Forecast 16.02.2024 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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