Forex Technical Analysis & Forecast 09.01.2023

EURUSD, “Euro vs US Dollar”

The currency pair completed a wave of decline to 1.0482. Today the market has completed an impulse of growth to 1.0635. A consolidation range has formed around this level at some point. With an escape upwards, a pathway to 1.0768 will practically open. After this level is reached, the pair may correct to 1.0635 (a test from above) and then grow to 1.0787.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair completed a wave of decline at 1.1841. Today the market has completed an impulse of growth to 1.2083. At the moment, the market has formed a consolidation range around this level. With an escape upwards, a pathway for a wave of growth to 1.2292 will open. After this level is reached, the pair may correct to 1.2082 (a test from above) and then grow to 1.2330.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair completed a wave of growth to 134.74. Today the market has finished an impulse of decline to 132.26. At the moment, a consolidation range has appeared around this level. With an escape downwards, a pathway for a decline to 130.70 will open. After this level is reached, a link of correction to 132.26 (a test from below) is not excluded, followed by a decline to 129.70.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair completed a structure of a wave of growth to 0.9407. Today the market has completed an impulse of decline to 0.9282. At the moment, the market has formed a consolidation range around this level. With an escape downwards, a pathway for a wave of decline to 0.9172 will practically open. After this level is reached, a link of correction to 0.9282 (a test from below) is not excluded, followed by a decline to 0.9161.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair completed a wave of decline to 0.6720. Today the market has completed an impulse of growth to 0.6871. At the moment, a consolidation range has formed around this level. With an escape upwards, a pathway for a wave of growth to 0.6990 will open. After this level is reached, a link of correction to 0.6871 is not excluded, followed by growth to 0.7022.

BRENT

Crude oil has completed a wave of decline to 77.66 and an impulse of growth to 80.60. At the moment, it has formed a correction to 78.11. Today the market is forming an impulse of growth to 80.00. A breakaway of the level and further growth to 82.57 are not excluded.

XAUUSD, “Gold vs US Dollar”

Gold corrected to 1825.05 Today the market has performed a wave of growth to 1877.45. A link of correction to 1833.00 is not excluded, followed by growth to 1897.00.

S&P 500

The stock index continues developing a consolidation range around 3843.6. Today the market has completed a link of growth to 3904.4. A link of decline to 3843.6 is not excluded. Then the index may grow to 3924.8 and fall to 3677.5, from where the wave of decline might continue to 3640.0.