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Technical Analysis & Forecast 06.06.2024.

6 june 2024 - Fx4News

EURUSD, “Euro vs US Dollar”

The EURUSD pair has completed a downward impulse towards 1.0854 and corrected towards 1.0893, with a consolidation range forming below this level today. A downward breakout and a decline towards 1.0833 are expected. If this level also breaks, it will open the potential for a wave towards 1.0774, the downward wave’s local target.

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”

The GBPUSD pair has corrected towards 1.2807, with a fall to 1.2733 expected today. A breakout of this level will open the potential for a wave towards 1.2702, potentially reaching 1.2630, representing the downward wave’s local target.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair has completed a corrective wave, reaching 156.46, and today declined towards 155.33. A rise towards 156.90 is expected. Subsequently, a new decline wave might start, aiming for 154.29 as the local target of the downtrend.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

The USDCHF pair has completed a growth wave, reaching 0.8948. Today, a correction towards 0.8908 might follow. Once the correction is complete, a new growth wave could start, aiming for 0.8950. A breakout of this level will open the potential for a wave towards 0.9013, representing the uptrend’s first target.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed its movement towards 0.6624 and corrected towards 0.6680. Today, a wave aiming for 0.6611 is expected to develop. A breakout of this level will open the potential for a wave towards 0.6542, representing the downtrend’s local target.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Brent

Brent is forming a growth structure towards 81.07. After the price reaches this level, a corrective phase targeting 79.15 is possible, followed by a rise towards 84.70, potentially continuing towards 88.50. This is the uptrend’s local target.

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 growth wave, reaching 2354.64. A consolidation range has formed around this level. With an upward breakout, the wave is expected to continue towards 2380.00 today. Once the price reaches this level, a corrective phase targeting 2354.64 (testing from above) is possible, followed by a rise towards the local target of 2399.00.

XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index has extended a consolidation range towards 5360.0. A correction towards 5298.0 is possible today. Subsequently, another growth structure could develop, aiming for 5400.0. After the price reaches this level, a consolidation range is expected to form. A downward breakout will open the potential for a new decline wave towards 5169.5, representing the downtrend’s first target.

US500Cash
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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