Forex Technical Analysis & Forecast 19.05.2022

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.0460, EURUSD is expected to correct up to 1.0515. Later, the market may fall to break 1.0440 and then continue trading downwards with the target at 1.0373 or even extend this structure down to 1.0300.

GBPUSD, “Great Britain Pound vs US Dollar”

Having completed the descending wave at 1.2326, GBPUSD is expected to correct up to 1.2420. After that, the instrument may form a new descending impulse to break 1.2200 and then continue falling with the target at 1.2100.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the descending impulse at 127.99. Possibly, today the pair may correct to reach 129.00 and then form a new descending structure with the target at 127.00.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the correctional wave at 0.9855, USDCHF is expected to form one more ascending wave towards 0.9920. Later, the market may start another correction to reach 0.9776 and then resume trading upwards with the target at 0.9920 or even extend this structure up to 1.0200.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6944. Possibly, the pair may start a new growth towards 0.7083 and then resume falling with the target at 0.6900 or even extend this structure down to 0.6740.

BRENT

After finishing the correction at 108.80, Brent is forming one more ascending impulse towards 114.40. Later, the market may start another decline to reach 111.55 and then resume trading upwards with the target at 120.20.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating above 1808.00. Possibly, the metal may form one more ascending wave to break 1840.00 and then continue trading upwards with the target at 1875.00.

S&P 500

After rebounding from 4084.4, the S&P index is falling to break 3655.7 and may later continue trading downwards with the target at 3500.0.