Technical Analysis & Forecast 06.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a corrective movement to 1.0707. Today the market is forming a consolidation range above this level. With an escape upwards from the range, a link of growth to 1.0756 is not excluded (with a test from below). Next, a decline to 1.0633 could follow, from where the trend might continue to 1.0566.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has performed a wave of decline to 1.2530 and a correction to 1.2585. A consolidation range is forming under this level today. If the price escapes this range upwards, the correction could continue to 1.2638. With an escape downwards, the potential for a movement to 1.2459 might open, from where the trend could continue to 1.2424. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a growth structure to 147.75. A link of decline to 147.07 is not excluded. Next, a link of growth to 148.78 is expected. This is a local target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has performed a wave of growth to 0.8902. A consolidation range is forming above this level today. An escape upwards from the range could open the potential for a rise to 0.8918, from where the trend might continue to 0.8969. With an escape downwards, a corrective movement to 0.8860 is not excluded, followed by a rise to 0.8969.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has corrected to 0.6357. Today the market is forming a consolidation range above this level. A link of correction to 0.6424 is not excluded (with a test from below), followed by a decline to 0.6330. This is the first target.

BRENT

Brent has moved in an ascending wave to 90.86. Today it might correct to 87.70 (with a test from above). Next, the wave of growth could continue to 93.20. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has broken the 1934.00 level downwards, completing a declining movement to 1925.00. A consolidation range is forming around this level today. A link of correction to 1933.00 is not excluded, followed by a decline to 1921.75, from where the trend might continue to 1915.30.

S&P 500

The stock index has completed a wave of decline to 4493.0. A consolidation range is forming above this level today. An escape from it upwards to 4517.0 (with a test from below) is not excluded, followed by a decline to 4465.0. Escaping the range downwards, the quotes might continue the wave to 4465.0, from where it might extend to 4441.0.