Forex Technical Analysis & Forecast 01.12.2022
EURUSD, “Euro vs US Dollar”
The currency pair has completed a structure of decline to 1.0290. Getting support at this level, the market has performed a link of growth to 1.0440. Today a consolidation range might form around this level. With an escape upwards, a pathway up to 1.0590 will open. With an escape downwards, the pair may drop to 1.0365 and then grow to 1.0550.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair has completed the wave of decline at 1.1900. Today the market has completed a link of growth to 1.2077. A consolidation range is expected to form around this level. With an escape upwards, a pathway to 1.2250 will open. With an escape downwards, the pair might decline to 1.2002 and then grow to 1.2200.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair has formed a wave of growth to 139.86. Bouncing off this level downwards, the market continues yet another wave of decline. At the moment, it has completed a structure of decline to 137.31 and a pattern of declining by the trend around this level. The wave is expected to continue to 134.87. The goal is local.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair has completed a wave of decline to 0.9440. At the moment, the market is forming a consolidation range around this level. With an escape downwards, a pathway down to 0.9355 will open. With an escape upwards, a link of growth to 0.9477 is not excluded, followed by a decline to 0.9377.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair has broken through a consolidation range upwards and suggests growing to 0.6838. Then a decline to 0.6577 (a test from above) and growth to 0.6855 should follow.
BRENT
Crude oil has completed a link of growth to 87.34. At the moment, the market is forming a narrow consolidation range under this level. We expect an escape upwards and continuation of the wave of growth to 90.00, followed by a correction to 85.00.
XAUUSD, “Gold vs US Dollar”
Gold got support at 1745.00 and completed a link of growth to 1763.83. At the moment, the market has broken through this level with a pattern of growth continuation. The goal of the growth is 1782.20. After this level is reached, a link of correction to 1763.83 and growth to 1790.34 are not excluded.
S&P 500
The stock index got support at 3940.5 and started developing a structure of growth to 4100.0. After this level is reached, a wave of decline to 3897.5 might start.
