Forex Technical Analysis & Forecast 21.11.2022

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0280. Today we expect a consolidation range to develop around this level. With an escape from the range downwards, a pathway to 1.0165 will open. The goal is local.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair continues developing a wave of decline to 1.1777. After this level is reached, we expect a consolidation range to develop. With an escape downwards, the wave might continue to 1.1588. The goal is local. And after this goal is hit, a correction to 1.1777 might follow.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair continues forming a wave of growth to 141.95. After this level is reached, a correction to 139.70 might start, followed by growth to 144.66.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair continues developing a wave of growth to 0.9630. After this level is reached, a link of correction to 0.9515 might happen, followed by growth to 0.9666.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair continues developing a wave of decline to 0.6612. After this level is reached, a link of growth to 0.6700 is not excluded, followed by a decline to 0.6555.

BRENT

Crude oil has extended a structure of decline to 85.88. Today the market is forming a consolidation range above this level. An escape upwards to 91.50 is expected, from where a link of decline to 85.00 is not excluded. After this level is reached, a wave of growth to 95.55 should begin.

XAUUSD, “Gold vs US Dollar”

Gold has completed a structure of a declining wave to 1748.70. Today a consolidation range should form around this level. With an escape downwards, a pathway to 1729.50 will open.

S&P 500

The stock index continues a wave of decline to 3873.7. After this level is reached, a correction to 3960.0 should begin, followed by a decline to 3777.7, from where the wave will possibly extend to 3555.5.