Technical Analysis & Forecast 04.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair has formed a consolidation range around the level of 1.1040, and if the quotes escape the range upwards, the wave could continue to 1.1133. After reaching this level, a new declining wave to 1.1040 is expected. And if this level also breaks, the trend could continue to 1.0940.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has formed a consolidation range around 1.2535. If the quotes escape upwards, the wave could continue to 1.2633. After the price reaches this level, a new declining wave to 1.2535 is expected to begin. And if this level also breaks downwards, the trend could continue to 1.2430.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has formed a consolidation range around 135.50, and if the quotes break the range downwards, the wave could continue to 133.30. After the price hits this level, a new wave of growth to 135.50 could begin. And if this level also breaks upwards, it will open the potential for 138.25 to be reached.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has formed a consolidation range around 0.8873, and if the price escapes it downwards, the wave could continue to 0.8753. After the quotes reach this level, a wave of growth to 0.8873 could begin. And if this level also breaks upwards, it will open the potential for 0.8990 to be reached.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair continues developing a consolidation range around 0.6670. A link of growth to 0.6700 is not excluded. After the price reaches this level, a decline to 0.6644 is expected. If the quotes break the range downwards, this will open the potential for a declining wave to 0.6530.

BRENT

Brent has formed a consolidation range around 75.50, and if the quotes escape it downwards, the wave could continue to 70.70. After the price reaches this level, a wave of growth to 75.50 could begin. And if this level breaks upwards, it will open the potential for a rise by the trend to 80.25.

XAUUSD, “Gold vs US Dollar”

Gold escaped a consolidation range and performed a link of growth to 2077.55. Today the market is forming a structure of decline to 2020.00. Next, a link of growth to 2047.00 could follow, after which the wave of decline is likely to continue to 1966.00.

S&P 500

The stock index has completed a wave of correction to 4080.0. A consolidation range could form around this level today. If the price escapes upwards, it could develop a wave of growth to 4140.0. And if this level breaks upwards, it will open the potential for trend continuation to 4200.0.