Technical Analysis & Forecast 12.05.2023

12.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0900. Today the market is forming a consolidation range above this level. A structure of growth could develop to 1.0950, followed by a decline to 1.0892. If the price escapes the range upwards, , the potential for a correction to 1.0999 could open. If the price breaks it downwards, the potential for a decline to 1.0800 could open.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of decline to 1.2500. Today the market is forming a consolidation range above this level. If the price escapes the range upwards, a corrective wave to 1.2599 could develop. If the price breaks it downwards, the potential for a decline to 1.2400 could open.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

The currency pair is forming a wave of growth to 135.80. And if this level also breaks upwards, the potential for growth to 137.80 could open. This target is local. After the price reaches this level, a correction to 135.80 could develop.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a structure of growth to 0.8955. A link of correction to 0.8922 is expected today. Next, growth to 0.8980 could follow. And if this level also breaks, the trend could continue to 0.9020.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a wave of decline to 0.6690. Today the market is forming a consolidation range above this level. If the price escapes the range upwards, a correction to 0.6744 could follow. If the price breaks it downwards, the potential for a wave to 0.6600 could open.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is completing a correction at 74.00. After it reaches this level, a new wave of growth to 78.20 could start. If this level also breaks upwards, the wave might reach 86.00. This target is local.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 2014.00. A consolidation range could develop around this level today. If the price escapes the range downwards, the potential for a decline to 1987.34 could open, from where the trend could continue to 1980.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The currency pair continues developing a consolidation range around 4133.0. With an escape from the range upwards, a link of growth to 4215.0 could follow. With an escape downwards, the potential for a wave of decline to 3945.0 could open, from where the trend could continue to 3900.0.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.