Technical Analysis & Forecast 20.07.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed the first wave of decline to 1.1174. Today it might correct to 1.1232 with a test from below. After the correction is over, a new wave of decline to 1.1150 could start. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a structure of a wave of decline to 1.2866. A correction to 1.2990 might form today. After it is over, a new wave of decline to 1.2848 might form. This is the first target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues forming a structure of growth to 140.50. Next, a decline to 139.09 and a rise to 140.95 are expected. After the price reaches this level, a link of decline to 136.83 is not excluded.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues forming a consolidation range around 0.8590 without any expressed trend. Today the range could expand to 0.8530. Next, a wave of growth to 0.8782 is expected to begin. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the target of a declining wave at 0.6750. Today the market is forming a corrective structure to 0.6833. The correction might expand to 0.6852. After the correction is over, a new wave of decline to 0.6695 is expected to begin. This is a local target.

BRENT

Brent continues forming a consolidation range around 79.71 without any expressed trend. A corrective link of decline to 77.90 is not excluded (with a test from above). After the price reaches this level, a new wave of growth to 82.42 could begin, from where the trend might continue to 84.00. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a structure of growth to 1987.00. Today the quotes might drop to 1979.50. Next, a link of growth to 1988.99 is not excluded. And next, a wave of decline to 1964.64 might start. A breakout of this level could open the potential for a wave of decline to 1902.00.

S&P 500

The stock index has formed a link of growth to 4581.4. Today it might correct to 4486.0. Next, a new structure of growth to 4591.0 is not excluded, followed by a decline to 4485.0. And a breakout of this level could open the potential for a wave of decline to 4282.0.