Forex Technical Analysis & Forecast 21.02.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a correctional wave to 1.0700. Today the market is consolidating under this level. An escape downwards and a decline to 1.0637 are expected. And with a breakaway of this level downwards as well, a pathway for a wave of decline to 1.0579 will open.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a correctional wave to 1.2055. Today the market might be consolidating under this level. With an escape downwards, a decline to 1.1958 is expected. And with a breakaway of this level downwards as well, a pathway for a wave of decline to 1.1866 will open.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of correction to 133.93. Today the market is consolidating above this level. With an escape upwards, a pathway to 135.30 should open. And with a breakaway of this level as well, the pair might rise to 136.55.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a wave of correction to 0.9220. Today the market is consolidating above this level. With an escape upwards, a pathway to 0.9282 should open. And with a breakaway of this level as well, the pair might rise to 0.9330.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a correctional structure to 1.0700. Today the market is consolidating under this level. An escape downwards and extension of the wave to 0.6850 are expected. And with a breakaway of this level downwards as well, a pathway for a wave of decline to 0.6777 will open.

BRENT

Brent continues forming a consolidation range around 83.93. With an escape upwards, a pathway to 86.30 should open. And with a breakaway of this level as well, growth to 90.90 should become possible.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of correction to 1847.49. Today a consolidation range is likely to form under this level. With an escape downwards, a pathway for the wave to 1831.00 should open. And with a breakaway of this level as well, a decline to 1815.00 should follow.

S&P 500

The stock index has completed a wave of correction to 4081.9. Today a consolidation range is likely to form under this level. With an escape downwards, a pathway for the wave to 4045.0 should open. And with a breakaway of this level as well, a decline to 4008.8 should follow.