Forex Technical Analysis & Forecast 08.04.2021
EURUSD, “Euro vs US Dollar”
The currency pair completed a wave of decline to 1.1901. Today the market is trading in a structure of declining to 1.1820, after which growth to 1.1867 should follow. Then another wave of declining to 1.1806 is likely to develop.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair keeps developing another declining wave to 1.3690. Upon reaching this level, the price should form a link of correction to 1.3804 and then develop another declining wave to 1.3600.
USDRUB, “US Dollar vs Russian Ruble”
The currency pair has completed growth to 77.77. Today we expect another wave of decline to 76.35 to develop, followed by a correction to 77.22, then a decline to 75.26.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair keeps forming a consolidation range around 109.73. With an escape upwards, it might correct to 110.39. With an escape downwards, the downtrend might continue to 108.60.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair has completed a structure of a declining wave to 0.9300. Today the market is trading in a consolidation range around this level. With an escape upwards, it might grow to 0.9393. With an escape downwards, the trend might continue to 0.9200.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair is trading in a consolidation range under 0.7655. With an escape downwards, it might further decline to 0.7454. Then growth to 0.7655 should follow.
BRENT
Oil keeps developing a consolidation range around 63.00 with no clear trend. Today the decline might continue to 60.00. After this level is reached, a wave of growth to 65.50 should start.
XAUUSD, “Gold vs US Dollar”
Gold keeps developing a wave of growth to 1755.73. At the moment, the market is forming a consolidation range around 1735.00. We expect an escape upwards and trend continuation to 1755.73. After this level is reached, a link of correction to 1720.20 should follow. Then we expect growth to 1900.00.
S&P 500
The stock index has formed a consolidation range around 4077.3. Today the market is escaping it upwards. Practically, a potential for growth to 4160.3 appears. The goal is local. After this level is reached, we expect a wave of decline towards 3860.0 to start.
