Forex Technical Analysis & Forecast 06.04.2021

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of growth to 1.1816. Today the market is forming a consolidation area under this level. We expect a decline to 1.1750. In case of a breakaway of 1.1820 upwards, growth might continue to 1.1900. In the case 1.1750 is broken downwards, the pair might drop to 1.1700.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of growth to 1.3910. Today the market is forming a consolidation range at these highs. The range can extend to 1.3930. Then we expect a decline to 1.3805.

USDRUB, “US Dollar vs Russian Ruble”

The currency pair is trading in a declining structure to 75.76. Then is should grow to 76.26. At these levels, we expect a consolidation range to form. With an escape downwards, a decline to 75.49 will become possible, and with a breakaway of this downwards, we expect a decline to 74.40.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has completed a structure of a declining wave to 109.96. Today it might correct to 110.51. Practically, we expect a consolidation range to develop at these levels. With an escape upwards, the price might go up to 111.44, and with an escape downwards, the decline might continue to 109.40.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has performed a wave of decline to 0.9355. Today it might correct to 0.9393, then continue declining to 0.9300 and then grow to 0.9474.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a correction to 0.7657. Then we expect a decline to 0.7454. Here the wave of decline will be completed, after which growth to 0.7730 should follow.

BRENT

Oil has broken through 62.80 downwards. Practically, a declining pathway to 60.50 has opened. The goal is local. Then we expect growth to 62.80 (a test from below), followed by a decline to 60.00. Then a link of growth to 65.50 is expected.

XAUUSD, “Gold vs US Dollar”

Gold has formed a consolidation range around 1720.16. Today the market is growing, practically breaking through the upper border of the range. We expect the wave of growth to continue to 1755.75.

S&P 500

The index formed a consolidation range around 3960.3, escaped it, and extended the wave to 4077.5. Today we expect a decline to 3960.3 (a test from above). Then the trend might continue to 4160.0.