Technical Analysis & Forecast 17.07.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of growth to 1.1244. Today the market is forming a consolidation range under this level. The range could later expand to 1.1278. Next, a decline to 1.1128 might follow, from where the wave of decline could continue to 1.1010.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a structure of a wave of growth to 1.3142. At the moment, the market is forming a consolidation range under this level. With an escape from the range downwards, the price might correct to 1.2927. With an escape upwards, the range might expand to 1.3200. Next, a decline to 1.2927 might follow.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of correction to 137.40. Today it might rise to 139.30. Next, a decline to 138.00 could follow. After that, a rise to 140.50 is expected, from where the growth might continue to 141.25. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a wave of decline to 0.8583. Today the market is forming a consolidation range above this level. A correction to 0.8799 is expected to start developing. After the correction is over, a wave of decline to 0.8485 might start.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has reached the target of a wave of growth at 0.6895. Today the market is performing a correction to 0.6789. Next, a new structure of growth to 0.6930 could begin, followed by a decline to 0.6655.

BRENT

The instrument has completed a structure of a wave of growth to 81.50. Today the market is forming a corrective structure to 77.15 with a test from above. After the correction is over, a new wave of growth to 82.40 could begin. This is a local target. After the price reaches this level, a new correction to 77.00 might start.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of growth to 1963.53. At the moment, the market is forming a consolidation range under this level. The price might escape downwards and continue the correction to 1935.20. After the correction is over, a new structure of growth to 1967.50 might start. Next, a decline to 1935.00 is expected.

S&P 500

The stock index has completed a structure of growth to 4515.5. At the moment, the market has formed a consolidation range around this level. Today the market could escape it upwards and extend the structure of growth to 4534.4. After the price reaches this level, a new wave of decline to 4400.0 is expected to start. This is the first target.