Technical Analysis & Forecast 21.06.2023

EURUSD, “Euro vs US Dollar”

The currency pair is forming a structure of a declining wave to 1.0880. After it reaches the level, a correction to 1.0915 might follow (a test from below). Next, a decline to 1.0820 is expected. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of decline to 1.2713 and a correction to 1.2767. A decline to 1.2672 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 might open. With an escape upwards, a link of correction to 1.2760 is not excluded, followed by a decline to 1.2626. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair continues developing a consolidation range around 141.71. The range could extend to 141.10. Next, a rise to 142.33 looks possible. And with a breakout of this level upwards as well, the potential for further development of the wave to 143.17 might follow.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair is forming a consolidation range around 0.8984. An extension of the range to 0.8944 is not excluded, followed by a rise to 0.9030. And with a breakout of this range upwards as well, the potential for the wave to 0.9109 might open. This is a local target.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a structure of a declining wave to 0.6752. Today a correction to 0.6802 might follow (a test from below). Next, a decline to 0.6727 is expected. This is a local target.

BRENT

Brent continues developing a consolidation range around 75.70. At a certain point, the market extended the range upwards to 77.05 and next - downwards to 74.74. Today it might escape the range upwards to 78.50. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1929.80. Today the market might correct to 1942.42 (a test from below). Next, a decline to 1927.47 is expected, from where the trend could continue to 1918.00. After the price reaches this level, a link of correction to 1940.00 is not excluded, followed by a decline to 1914.50.

S&P 500

The stock index has completed a structure of a wave of decline to 4371.0. Today a correction to 4411.0 could be expected, followed by a decline to 4357.0. And with a breakout of this range downwards as well, the potential for a decline to 4300.0 might open. This is a local target.