Forex Technical Analysis & Forecast 08.12.2022
08.12.2022EURUSD, “Euro vs US Dollar”
The currency pair performed an impulse of decline to 1.0443 and corrected to 1.0548. Today a structure of a declining wave to 1.0433 is forming. And with a breakaway of this level downwards as well a pathway to 1.0320 will open. After this level is reached, growth to 1.0320 might begin.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair completed a wave of decline to 1.2105 and a correction to 1.2233. Today the market is forming a wave of decline to 1.2124. With a breakaway of this level downwards as well, a pathway for a declining wave to 1.2013 will open, from where growth to 1.2124 may start.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair continues growth to 137.87. After this level is reached, a decline to 135.75 is expected, from where the trend should continue to 134.10.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair continues developing a wave of growth to 0.9459. Then a decline to 0.9390 should follow, from where the mave may continue to 0.9320.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair is forming a consolidation range around 0.6696. With an escape upwards, a pathway for correction to 0.6755 will open. With an escape downwards, the pair my decline to 0.6655. After this level is reached, growth to 0.6752 is expected.
BRENT
Crude oil completed an impulse of decline to 77.10. We may expect growth to 81.10 and a decline to 79.00. Practically, a wide consolidation range is forming around 79.00. We expect an escape upwards and the beginning of a wave of growth to 85.20. The goal is first.
XAUUSD, “Gold vs US Dollar”
Gold is forming a consolidation range around 1782.00. With an escape upwards, a pathway to 1790.00 will open, from where the pair may decline to 1755.00. With an escape downwards, a pathway directly to 1755.00 will open.
S&P 500
The stock index continues forming a consolidation range under 3963.0. An escape downwards and trend continuation to 3862.7 are expected. After this level is reached, a link of correction to 3963.0 is not excluded, followed by a decline to 3844.4. The goal is local.
Attention!Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.