Technical Analysis & Forecast 17.05.2023
EURUSD, “Euro vs US Dollar”
The currency pair has completed a wave of correction to 1.0903. Today the market is forming a wave of decline to 1.0833. And if this level also breaks, the potential for a decline to 1.0793 could open. This is a local target.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair has completed a wave of correction to 1.2544. Today the market is forming a wave of decline to 1.2416. After the price reaches this level, a link of correction to 1.2540 is not excluded, followed by a decline to 1.2355.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair continues developing a wave of growth to 137.40. After the price reaches this level, a correction to 136.05 could follow. Next, growth to 138.40 is expected.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair continues developing a wave of growth to 0.8989, from where the trend could continue to 0.9050. This is a local target. After the price reaches this level, a link of correction to 0.8990 is not excluded, followed by growth to 0.9100.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair continues developing a wave of decline to 0.6595. This is a local target. After the price reaches this level, a link of correction to 0.6655 is not excluded, followed by a decline to 0.6570.
BRENT
Brent continues forming a consolidation range around 75.75. If the price escapes the range upwards, a wave of growth to 80.20 could follow, from where the trend might continue to 85.00. This is a local target.
XAUUSD, “Gold vs US Dollar”
The currency pair continues developing a wave of decline to 1982.60. After the price reaches this level, a link of correction to 2011.50 is not excluded, followed by a decline to 1975.55.
S&P 500
The stock index continues developing a consolidation range around 4133.0 without any expressed trend. An escape from the range downwards to 4050.0 is expected today. Next, a link of growth to 4107.0 and a decline to 3944.0 are expected, from where the trend could continue to 3900.0.
