Technical Analysis & Forecast 05.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair completed a declining wave to 1.0985. Today the market has performed a link of growth to 1.1044. A consolidation range is forming around this level at the moment. If the price escapes the range upwards, it may rise to 1.1077. If the range breaks downwards, the potential for a decline to 1.0974 may open, from where the trend could continue to 1.0830.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair continues developing a structure of growth to 1.2626. After the quotes reach this level, a decline to 1.2585 is not excluded, followed by a rise to 1.2633. Next, a new wave of decline to 1.2533 could start. And if this level also breaks, the potential for a decline to 1.2430 may open.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair continues developing a wave of decline to 133.30. After the quotes reach this level, a wave of growth to 134.44 is likely to begin. And if this level breaks as well, the trend could continue to 135.55. The target is first.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair continues developing a wave of decline to 0.8793. After the quotes reach this level, a wave of growth to 0.8893 is likely to begin. And if this level breaks as well, the potential for the trend to reach 0.9040 could open.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has escaped a consolidation range upwards. The potential for a wave to 0.6750 is open. After the quotes reach this level, a decline to 0.6700 is expected. Next, growth to 0.6767 could follow.

BRENT

Brent continues developing a consolidation range around 73.45. A link of decline to 70.70 is not excluded. Next, the wave of growth could continue to 80.24, from where the trend could further develop to 87.00.

XAUUSD, “Gold vs US Dollar”

Gold continues developing a consolidation range around 2045.50. A link of growth to 2061.30 is not excluded, followed by a decline to 2017.30. The target is first. After this level is reached, a link of correction to 2045.50 is expected.

S&P 500

The stock index has completed a wave of decline to 4048.5. A link of growth to 4090.0 (a test from below) is not excluded today. Next, a decline to 3995.0 could follow, from where the trend may continue to 3990.0.