Technical Analysis & Forecast 20.06.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a structure of a wave of decline to 1.0907 and a correction to 1.0926. A decline to 1.0878 might follow today. Next, a consolidation range is expected to develop around this level. With an escape from the range downwards, the potential for a wave of decline to 1.0820 could open. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a structure of a wave of decline to 1.2770 and a correction to 1.2804. A decline to 1.2741 is expected today. Next, a consolidation range might form around this level. With an escape from the range downwards, the potential for a wave of decline to 1.2680 could open. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair continues developing a wave of growth to 142.30. After the price reaches this level, a correction to 141.10 might follow. Next, we expect a rise to 143.17. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a wave of growth to 0.8973 and a link of correction to 0.8950. Today the market continues developing a structure of growth to 0.9018. After the price reaches this level, a link of correction to 0.8950 might follow. Next, a rise to 0.9100 is expected.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a correction to 0.6874. Today the market continues developing a wave of decline to 0.6742. After the price reaches this level, a link of correction to 0.6800 is expected (a test from below), followed by a decline to 0.6717. This is the first target.

BRENT

Brent has completed a wave of growth to 76.88. A link of correction to 74.94 is not excluded today. Next, a structure of growth to 78.50 might develop, from where the trend could continue to 80.50. This is a local target.

XAUUSD

Gold has completed a wave of decline to 1947.85 and a link of correction to 1953.88. Today the market continues developing the wave of decline to 1942.55. Next, a consolidation range could develop around this level. With an escape from the range downwards, the potential for a wave of decline to 1930.45 could open, from where a wave to 1918.00 might form.

S&P 500

The stock index continues developing a wave of decline to 4374.0. After the price reaches this level, a link of correction to 4410.0 might follow. Next, a decline to 4306.6 is expected. This is a local target.