Technical Analysis & Forecast 23.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair continues developing a consolidation range around 1.0809. Today the pair could drop to 1.0788. After it reaches this level, a link of growth to 1.0809 (a test from below) is not excluded. Next, the wave of decline might continue to 1.0760, from where the wave could extend to 1.0740.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of decline to 1.2413 and a correction to 1.2470. Today the market continues developing a wave of decline to 1.2369. After the quotes reach this level, a link of correction to 1.2420 is not excluded, followed by a decline to 1.2355. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of growth to 138.86. Today the market is forming a structure of decline to 138.02. Next, a correction to 138.40 and a decline to 137.20 could follow. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair continues developing a wave of growth to 0.8998. After the price reaches this level, a correction to 0.8970 could follow. Next, a wave of growth to 0.9033 might develop. This is a local target.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a wave of decline to 0.6626 and a correction to 0.6666. Today the market is forming a consolidation range under this level. With an escape from the range downwards, a new wave of decline to 0.6606 might start, from where the trend could continue to 0.6590.

BRENT

Brent has completed a wave of growth to 76.06. Today the market is forming a consolidation range around this level. A link of decline to 75.33 is not excluded. Next, growth to 78.00 could follow, from where the trend could continue to 82.00.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1959.50. Today the market is forming a consolidation range above this level. The range could extend to 1968.90. With an escape from the range downwards, the potential for a wave of decline to 1951.00 could start, from where the trend might continue to 1945.60. This is a local target.

S&P 500

The stock index continues developing a consolidation range around 4200.0. With an escape from the range downwards, a new wave of decline to 4131.5 might start. After the price reaches this level, a link of correction to 4174.0 is not excluded. Next, a decline to 4050.0 could follow. This target is the first one.