Technical Analysis & Forecast 10.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair completed a wave of decline to 1.0940. Today the market has performed a link of correction to 1.0976. A new structure of decline is expected to develop to 1.0933. This is a local target. After the price reaches this level, a correction to 1.0933 could develop, followed by a decline to 1.0895.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair completed a wave of decline to 1.2577. Today the market has performed a link of correction to 1.2633. A new wave of decline is expected to develop to 1.2566. And if this level breaks downwards, the potential for a decline to 1.2488 could open. This target is local.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has formed a consolidation range around 134.95 and could now escape it upwards, extending the wave to 136.07. After the price reaches this level, a correction to 134.95 could follow. Next, growth to 136.40 is expected. This target is first.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair goes on to develop a wave of growth to 0.8982. After the price reaches this level, a correction to 0.8896 could start. Next, a link of growth to 0.9050 could follow.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a wave of decline to 0.6755. Today a consolidation range is forming around this level. A new structure of decline is expected to develop to 0.6738. And if this level breaks downwards, the trend could continue to 0.6711.

BRENT

Gold continues developing a wave of growth to 78.28. After the price reaches this level, a link of correction to 74.74 is not excluded. Next, growth to 84.40 could follow. This target is local.

XAUUSD, “Gold vs US Dollar”

Gold completed a wave of decline to 1999.44. Today the market has corrected to 2038.40. A new structure of decline to 1981.30 is expected to begin. This target is first.

S&P 500

The stock index has completed a wave of correction to 4150.0. Today a decline to 4052.0 is expected, from where the trend could continue to 3955.0. This target is local.