Technical Analysis & Forecast 27.02.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair extends a correction wave to 1.0858. Today the market is forming a narrow consolidation range under this level. With an escape from the range upwards, further correction to 1.0872 is not excluded. With a downward escape, the decline wave could continue to 1.0790.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBPUSD pair continues developing a consolidation range around 1.2676. Today the range could expand to the 1.2707 level. Next, a decline to 1.2660 might follow. With an escape from the range downwards, the potential for a wave to 1.2600 could open. With an upward escape, a growth link to 1.2750 could form.

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair continues forming a consolidation range around the 150.44 level without any obvious trend. A decline link to 150.15 is expected today. Next, a growth link to 150.44 (testing from below) and a decline to 149.37 might follow. Once this level is reached, a new growth link to 151.18 might start. The potential for a growth wave to 151.18 might also open with an upward escape from the range. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

The USDCHF pair continues developing a consolidation range around 0.8823. Today the quotes could drop to 0.8776. Once this level is reached, a growth link to 0.8823 might follow. With a downward escape from the range, a decline link to 0.8733 is not excluded. With an upward escape, the trend could extend to 0.8865.

AUDUSD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed a decline wave to 0.6537. By now, a consolidation range has formed around this level. Today the market has escaped the range upwards and might form a growth link to 0.6555. Once this level is reached, a decline to 0.6515 is expected. This is a local target.

BRENT

Brent has formed a consolidation range around 81.66 without any obvious trend. With a downward escape from the range, the correction could extend to 79.00. With an upward escape, the potential for a growth wave to 85.85 might open. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold continues forming a wide consolidation range around 2026.34 without any expressed trend. Today the market could expand the range upwards to 2042.00 and then drop to 2026.00. With an upwards escape from the range, the growth wave to 2055.00 might continue. With a downward escape, the potential for a decline wave to 2011.00 could open.

S&P 500

The stock index has performed a correction to 5065.0. A growth link to 5090.0 might form today, followed by a correction to 5045.0. Once the correction is over, a new growth wave to 5144.0 could start.