Forex Technical Analysis & Forecast 05.12.2022
EURUSD, “Euro vs US Dollar”
The currency pair corrected to 1.0430 and started the development of a new wave of growth. Today the market has reached 1.0555. At the moment, the market has formed a consolidation range around this level. With an escape upwards, a pathway to 1.0677 should open. With an escape downwards, a link of correction to 1.0490 is not excluded, followed by growth to 1.0677.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair finished a wave of correction to 1.2134. Today the market has formed one more wave of growth to 1.2280, and with a breakaway of this level upwards, the structure may be extended to 1.2422. And after this level is reached, a correction to 1.2280 might start.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair corrected to 135.90. Today the market continues developing a wave of growth to 133.64. A consolidation range is expected to form around this level. With an escape downwards, a pathway for a wave of decline to 131.96 will open.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair completed a correction to 0.9435. Today the market continues developing a wave of decline to 0.9322. After this level is reached, the pair may grow to 0.9435.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair corrected to 0.6742. Today the market continues the wave of growth to 0.6872. After this level is reached, a wave of decline to 0.6755 might start.
BRENT
Crude oil formed a consolidation range around 87.10. A link of decline to 84.88 is not excluded, followed by growth to 89.30. And with a breakaway of this level upwards, the wave of growth should continue to 93.75. The goal is local.
XAUUSD, “Gold vs US Dollar”
Gold continues a wave of growth to 1810.70. After this level is reached, a decline to 1778.78 and growth to 1818.88 might follow.
S&P 500
The stock index corrected to 4005.5. At the moment, the market completed a wave of growth to 4069.0. Today a consolidation range is expected to form around this level. With an escape upwards, a link of growth to 4133.3 is not excluded, followed by a decline to 4004.4.
