Technical Analysis & Forecast 24.05.2023
EURUSD, “Euro vs US Dollar”
The currency pair has completed a wave of decline to 1.0760. Today the market is correcting to 1.0789. After the correction will be over, a new wave of decline is expected to develop to 1.0740. This is a local target.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair continues correcting to 1.2438. After the correction will be over, a new wave of decline to 1.2355 could start. This is a local target.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair is forming a structure of a declining wave to 137.70. After the price reaches this level, a link of correction to 138.26 is not excluded. Next, a decline to 137.60 could follow. This is the first target.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair continues developing a consolidation range around 0.9000. Today a link of growth to 0.9035 might develop, from where the wave might continue to 0.9060. This is the first target.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair has completed a wave of decline to 0.6585. Today the market is forming a correction to 0.6620. After the correction will be over, a new structure of decline to 0.6570 could start.
BRENT
Brent has completed a wave of growth to 77.40. Today the market is forming a consolidation range above this level. An escape from the range upwards and a structure of growth to 78.33 are expected, from where the wave could continue to 79.40. This is a local target.
XAUUSD, “Gold vs US Dollar”
Gold completed a wave of growth to 1975.00. Today the market has completed a consolidation range around this level. Extension of the range upwards to 1984.00 is not excluded. Next, a decline to 1964.00 could follow, from where the wave could continue to 1945.80.
S&P 500
The stock index has completed a consolidation range downwards and continues developing a structure of decline to 4136.0. After the price reaches this level, a link of correction to 4174.5 is not excluded. Next, a decline to 4131.5 could follow. This is the first target.
