Forex Technical Analysis & Forecast 09.04.2021

EURUSD, “Euro vs US Dollar”

The currency pair completed a wave wave of growth to 1.1921. Today the market is trading in a consolidation range around 1.1910. Currently, there is a structure of decline to the lower border of the range (1.1891) forming. With an escape from the range downwards, a decline to 1.1808 will become possible. With an escape upwards, the price might leap up to 1.1968 and then – drop to 1.1800.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair keeps developing a consolidation range around 1.3750. We expect an escape downwards to 1.3690, possibly followed by growth to 1.3800.

USDRUB, “US Dollar vs Russian Ruble”

The currency pair is aiming at a breakaway of 76.55. Then we expect the quotations to reach 75.85. The goal is local. Then we expect growth to 76.55 (a test from below), followed by a decline to 75.28. The goal is first.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair escaped the range downwards and reached the local goal of the declining wave – 109.00. Today the market is correcting to 109.50 (a test from below). When the correction is over, another wave of decline aiming at 108.64 should develop.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair is trading in a structure of a declining wave to 0.9204. After this level is hit, a link of correction to 0.9299 is not excluded. Then another wave of decline to 0.9134 is likely to develop.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair is trading in a consolidation range under 0.7655 without any bright trend. With an escape downwards, a decline to 0.7454 will become possible. Then growth to 0.7655 might follow.

BRENT

Oil keeps developing a consolidation range around 63.00. Today it might decline to 60.00. The goal is main. After this level is reached, we expect a new wave of growth to 65.50 to develop.

XAUUSD, “Gold vs US Dollar”

Gold completed a wave of growth to 1755.75. Today it is likely to correct to 1720.00. Practically, the market formed a wide consolidation range. We expect the quotations to escape it upwards and the trend to continue to 1900.00.

S&P 500

The stock index keeps developing a wave of growth to 4160.3. After this level is reached, we expect a correction to 4006.0 to start developing. The goal is first. The main goal of the correction is likely to be 3860.0.