Technical Analysis & Forecast 24.05.2023

24.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0760. Today the market is correcting to 1.0789. After the correction will be over, a new wave of decline is expected to develop to 1.0740. This is a local target.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair continues correcting to 1.2438. After the correction will be over, a new wave of decline to 1.2355 could start. This is a local target.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

The currency pair is forming a structure of a declining wave to 137.70. After the price reaches this level, a link of correction to 138.26 is not excluded. Next, a decline to 137.60 could follow. This is the first target.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

The currency pair continues developing a consolidation range around 0.9000. Today a link of growth to 0.9035 might develop, from where the wave might continue to 0.9060. This is the first target.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a wave of decline to 0.6585. Today the market is forming a correction to 0.6620. After the correction will be over, a new structure of decline to 0.6570 could start.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has completed a wave of growth to 77.40. Today the market is forming a consolidation range above this level. An escape from the range upwards and a structure of growth to 78.33 are expected, from where the wave could continue to 79.40. This is a local target.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold completed a wave of growth to 1975.00. Today the market has completed a consolidation range around this level. Extension of the range upwards to 1984.00 is not excluded. Next, a decline to 1964.00 could follow, from where the wave could continue to 1945.80.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index has completed a consolidation range downwards and continues developing a structure of decline to 4136.0. After the price reaches this level, a link of correction to 4174.5 is not excluded. Next, a decline to 4131.5 could follow. This is the first target.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.