Forex Technical Analysis & Forecast 03.02.2023
EURUSD, “Euro vs US Dollar”
The currency pair has completed a wave of decline to 1.0885. Today a consolidation range is forming above this level. With an escape upwards, a link of correction to 1.0960 should form. With an escape downwards, a pathway to 1.0850 should open, from where the wave might continue to 1.0783.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair has formed a consolidation range around 1.2282, and with an escape downwards a wave of decline to 1.2177 should develop. After this level is reached, a link of correction to 1.2282 is not excluded. Then a decline to 1.2164 should follow, from where the wave might extend to 1.2134.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair continues developing a consolidation range above 128.18. With an escape upwards, a link of growth to 129.76 should follow. With an escape downwards, a decline to 126.22 might follow.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair has completed a wave of decline to 0.9059. Today the market is trading in a structure of growth to 0.9164. After this level is reached, another link of decline to 0.9045 should develop, followed by growth to 0.9285.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair has completed a structure of decline to 0.7047. Today a consolidation range should form above this level. With an escape upwards, a link of correction to 0.7107 should follow. With an escape downwards, the wave should continue to 0.6984.
BRENT
Brent has completed a wave of decline to 81.20. Today a wave of growth to 85.48 should start, followed by a correction to 83.10 and growth to 90.30.
XAUUSD, “Gold vs US Dollar”
Gold has completed a structure of a wave of decline to 1919.00. Today a consolidation range is forming around this level. With an escape downwards, a decline to 1891.72 should follow. With an escape upwards, a link of correction to 1935.00 might happen, followed by a decline to 1880.00.
S&P 500
The stock index has completed a wave of growth to 4192.5. Today the market is forming a consolidation range under this level. An escape downwards is expected, so that the wave could extend to 4000.0. The goal is first.
