Technical Analysis & Forecast 14.02.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair has reached the estimated target of a decline wave at 1.0700. The structure of the last decline target implies a correction link to 1.0734 that might form today. Practically, a consolidation range might form between these two levels. With an escape from the range downwards, a decline link to 1.0680 is not excluded. With an escape upwards, the correction might extend to 1.0777.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBPUSD pair has completed a decline wave to 1.2573. Today it could correct to 1.2607. Once the correction is over, the quotes might drop to 1.2533. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair formed a consolidation range around 149.30 and concluded a growth wave to 150.85, escaping the range upwards, Today the quotes might correct to 149.30 (a test from above). Once the correction is over, a rise to 151.00 is expected.

USDCHF, “US Dollar vs Swiss Franc”

The USDCHF pair has completed a growth wave to 0.8877. Today the quotes could correct to 0.8815. Once the correction is over, a growth wave to 0.8888 might develop. This is a local target.

AUDUSD, “Australian Dollar vs US Dollar”

The AUDUSD pair has concluded a decline wave to 0.6444. A correction link to 0.6484 is expected today (a test from below). Once the correction is over, a decline wave to 0.6427 might follow. This is a local target.

BRENT

Brent has extended the consolidation range to 82.80. Today the quotes might correct to 82.00. Once the correction is over, a growth link to 83.63 is expected, from where the trend could continue to 85.80. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has concluded a decline wave to 1988.60. Currently, the instrument is forming a consolidation range above this level. With an escape from the range upwards, the potential for a correction to 2011.11 might open. With a downward escape, a decline link to 1970.30 is not excluded.

S&P 500

The stock index has performed a decline impulse to 4920.0. Today the quotes could correct to 4985.5. Once the correction is over, a decline link to 4855.0 is expected. This is a local target. Next, a correction to 4920.0 is not excluded (a test from below). After that, a decline to 4790.0 might follow. This is the first target.