Technical Analysis & Forecast 02.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a structure of decline to 1.0963. A correction to 1.0995 could follow today. After it is over, a decline to 1.0925 is expected, from where the wave could continue to 1.0888. The target is local.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a structure of a declining wave to 1.2480. Today a correction could develop to 1.2515. After it is over, a structure of decline could develop to 1.2424, from where the wave could continue to 1.2355. The target is first.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair continues developing a wave of growth to 138.58. After it reached the level, a correction to 136.00 is not excluded. After it is over, growth to 138.95 could follow.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a wave of growth to 0.8990. The target is local. After the quotes reach this level, a correction to 0.8955 is not excluded.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a wave of growth to 0.6700. A consolidation range is expected to form around this level today. With an escape from the range downwards, a wave of decline to 0.6620 could start. And if this level breaks as well, a pathway down to 0.6530 could open.

BRENT

Brent has completed a structure of a wave of growth to 80.40. Today the market has corrected to 78.05. The correction is expected to be over, after which growth to 80.60 could begin. And if this level breaks as well, the trend could continue to 82.82. The target is local.

XAUUSD, “Gold vs US Dollar”

Gold has completed a new impulse of decline to 1979.41. Today the market is correcting to 1986.20. After this correction is over, the wave of decline could continue to 1966.20, from where it could extend to 1900.00.

S&P 500

The stock index has completed a wave of growth to 4190.0. A consolidation range could form around this level today. It may later extend to 4200.0. If the price escapes the range downwards, a wave of decline is expected to start to 4055.0, from where the trend could continue to 3909.0.