Forex Technical Analysis & Forecast 23.08.2022
EURUSD, “Euro vs US Dollar”
Having completed the descending wave at 0.9950, EURUSD is consolidating below this level. Possibly, the pair may break the range to the downside and start another decline with the target at 0.9860. After that the instrument may grow to test 0.9950 from below and then resume falling to reach 0.9800.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the descending wave at 1.1810 and forming a new consolidation range there, GBPUSD has broken it to the downside. Today, the pair may continue trading downwards with the target at 1.1700. Later, the market may start another correction to test 1.1810 from below.
USDJPY, “US Dollar vs Japanese Yen”
Having completed the ascending wave at 137.66, USDJPY is consolidating below this level. Possibly, today the pair may extend the ascending structure to 138.00 and then start a new decline with the target at 136.12.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the ascending structure at 0.9655, USDCHF is expected to reach 0.9660 and may later start a new correction to break 0.9610. If it happens, the market may continue correcting downwards with the target at 0.9511.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.6868. Today, the pair may expand the range down to 0.6810 and then resume trading upwards with the target at 0.6868.
BRENT
Having completed the descending wave at 93.45 along with the ascending structure towards 97.00, Brent is expected consolidate around there. If later the price breaks the range to the upside, the market may resume growing with the short-term target at 101.51.
XAUUSD, “Gold vs US Dollar”
After finishing the descending wave at 1730.00 along with the ascending impulse towards 1739.90, Gold has completed the correction down to 1733.73; right now, it is forming one more ascending wave with the first target at 1750.00.
S&P 500
The S&P index continues falling towards 4121.2. Later, the market may start a new correction with the target at 4222.2 and then resume falling to reach 4000.0
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.