Technical Analysis & Forecast 13.05.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair is forming a consolidation range around 1.0760, with the range possibly expanding to 1.0795. With a downward breakout, a new decline wave could start, targeting 1.0684 and potentially continuing to the local target of 1.0580.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBPUSD pair is forming a consolidation range around 1.2505, with the range possibly expanding to 1.2565. With a downward breakout, a new decline wave could start, targeting 1.2444 and potentially continuing to the local target of 1.2350.

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair is currently in a consolidation phase around 155.60 without any strong trend. The range might expand to 156.11. With a downward breakout, a new decline wave could start, aiming for 154.00 and potentially continuing to 151.40, representing the first target of the next decline wave.

USDCHF, “US Dollar vs Swiss Franc”

The USDCHF pair is forming a consolidation range around 0.9070, with the range possibly expanding to 0.9040. After the price reaches this level, a new growth wave could start, targeting 0.9130 and potentially continuing to the local target of 0.9220.

AUDUSD, “Australian Dollar vs US Dollar”

The AUDUSD pair is currently in a consolidation phase around 0.6589. The range might expand to 0.6624. With a downward breakout, a new decline wave could start, aiming for 0.6525 and potentially continuing to the local target of 0.6400.

BRENT

Brent has completed a growth impulse, reaching 84.24. Today, a correction aiming for 82.00 is possible. Once the correction is complete, a new growth wave could develop, targeting 85.55 and potentially continuing to 86.06. This is a local target of the growth wave.

XAUUSD, “Gold vs US Dollar”

Gold has exited the consolidation range upwards and formed a growth link towards 2378.55. Today, a decline wave could start, aiming for 2344.82. Once the price hits this level, a corrective phase targeting 2364.64 is not ruled out. Next, a new decline wave could develop, aiming for 2275.95 as a local target. Subsequently, the price could rise to 2311.11 (testing from below) and then decline to 2241.11. This is the first target of the next decline wave.

S&P 500

The stock index is currently in a consolidation phase around 5205.0. The range might expand to 5246.5. With a downward breakout, a new decline wave could start, aiming for 5125.0 and potentially continuing to 5081.0, representing the first target of the next decline wave.