Technical Analysis & Forecast 07.04.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a link of correction to 1.0936. Today the price could fall to 1.0899. Then a link of growth to 1.0938 is not excluded, followed by a drop to 1.0850. The target is local.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair continues forming a consolidation range around 1.2446. If the price breaks the level downwards, a pathway down to 1.2388 could open. The target is local. After the quotes reach this level, they could rise to 1.2444. Then a decline to 1.2360 is not excluded.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair is forming a consolidation range around 131.73. If the price escapes the range upwards, the growth could continue to 132.50, from where a structure of growth to 132.90 could start. If the price breaks the range downwards, a link of correction to 131.20 will not be excluded. Then growth to 132.50 could follow.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair continues developing a correction to 0.9032. After it is over, growth to 0.9077 could develop. With a breakout of this level upwards, a pathway to 0.9120 could open. The target is local.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a link of decline to 0.6653. A structure of growth to 0.6727 could develop today. After the price reaches this level, it could drop to 0.6690.

BRENT

Brent continues developing a consolidation range around 84.60 without any expressed trend. A link of correction to 83.40 is not excluded today, followed by growth to 85.50. If the price breaks this range upwards, a pathway to 87.07 could open. And if the price escapes the range downwards, the correction could continue to 80.00. Then growth to 87.07 could follow.

XAUUSD, “Gold vs US Dollar”

Gold continues developing a structure of decline to 1998.30. Next, growth to 2010.80 and a decline to 1989.77 could follow. The target is first. After the price reaches this level, a correction to 2010.00 might form.

S&P 500

The stock index has completed an impulse of decline to 4071.3. Today the market is forming a correction to 4108.0. After the correction is over, a second impulse of decline to 4000.0 could follow. The target is local. Next, growth to 4052.0 (a test from below) and a decline to 3956.0 could follow. The target is first.