Forex Technical Analysis & Forecast 24.06.2022

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.0525. Possibly, the pair may form one more ascending structure towards 1.0619. Later, the market may trade downwards to break 1.0500 and then continue falling with the target at 1.0400.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is forming a new consolidation range around 1.2240. Today, the pair may grow towards 1.2319 and then trade downwards to return to 1.2240. If later the price breaks this range to the upside, the market may expand it up to 1.2490; if to the downside – resume falling with the target at 1.2066.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the correctional wave at 134.30 and may later start another growth towards 135.90, thus forming a new consolidation range between these two levels. If the price breaks this range to the upside, the market may form one more ascending structure to reach 137.55; if to the downside – resume falling with the target at 131.66.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9666; right now, it is falling towards 0.9540 and may later resume growing to break 0.9806. After that, the instrument may continue trading upwards with the target at 1.0044.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6930 without any specific direction. Later, the market may fall to break 0.6830 and then continue trading downwards with the target at 0.6790.

BRENT

Having completed the ascending wave 112.60 along with the descending structure towards 108.80, Brent has formed a new consolidation range between these two levels. If the price breaks this range to the upside, the market may form one more ascending structure with the target at 117.00; if to the downside – resume falling towards 105.00 first and then start another growth to reach the above-mentioned target.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1836.30 without any specific direction. If the price breaks this range to the downside, the market may start a new decline with the target at 1790.00 or even extend this structure down to 1777.17; if to the upside – form one more ascending wave to reach 1867.60.

S&P 500

The S&P index has completed the ascending structure at 3840.0 and may later resume falling towards 3680.0. If the price breaks this range to the upside, the market may start another correction up to 4000.0; if to the downside – resume trading downwards with the target 3500.0.