Technical Analysis & Forecast 04.03.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a link of decline to 1.0800. Today the market is forming a consolidation range around this level. If the price escapes the range downwards, a wave of decline to 1.0740 might follow. And if the pair breaks this level as well, a structure to 1.0677 could form. If the price escapes the range upwards, a link of correction to 1.0860 is not excluded. Then a decline to 1.0677 could follow.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of decline to 1.2275. The target is local. A consolidation range is expected to form around this level today. If the price escapes the range upwards, a link of correction to 1.2333 is not excluded. Then a link of decline to 1.2190 could follow, from where the structure could develop to 1.2100. If the price escapes the range downwards, the wave of decline could continue to 1.2100.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair continues developing a wave of growth to 133.77. After the pricereaches this level, a link of correction to 132.50 is not excluded. Then growth to 134.55 could follow.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has broken the level of 0.9175 upwards and continues developing the wave to 0.9220. After it reaches this level, a link of correction to 0.9175 is not excluded. Then a new wave of growth to 0.9235 could develop.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair continues developing a wave of decline to 0.6642. After the price reaches the level, a link of correction to 0.6680 is not excluded, followed by a decline to 0.6622. The target is first.

BRENT

Brent formed a consolidation range around 78.60, escaped it upwards, and reached the local target of growth at 84.87. Today a link of correction to 80.00 might form. Then a wave of growth to 87.05 should start. The target is first.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1956.90. Today the market is forming a consolidation range under this level. A decline to 1926.50 is expected. And if the price breaks this level as well, the wave could continue to 1911.40.

S&P 500

The stock index continues growing to 4117.5. After the price reaches this level, a correction to 4035.5 could follow. Then a link of growth to 4080.0 could develop.