Technical Analysis & Forecast 25.03.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair has completed a decline wave towards 1.0817, practically reaching the estimated target of the wave. Currently, the market is forming a consolidation range around this level. With a downward escape from the range, the wave could extend towards 1.0784. With an upward escape, a correction towards 1.0860, at least, might start.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBPUSD pair has reached the estimated target of the decline wave at 1.2594. Currently, the market is forming a consolidation range around this level. With a downward escape from the range, a decline towards 1.2580 is not excluded. With an upward escape, a correction to 1.2698 could start.

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair continues developing a consolidation range around 151.33. A decline link to 150.77 is not excluded today. Next, a growth wave towards 151.85 is not excluded, from which level the trend might extend towards 152.60. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

The USDCHF pair continues developing a consolidation range around 0.8955. With a downward escape from the range, a further correction towards 0.8933 is not excluded. With an upward escape, the growth wave towards 0.9025 might continue. This is a local target.

AUDUSD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed a decline wave towards 0.6514, and a consolidation range has formed above this level. With a downward escape from the range, the decline wave might extend towards 0.6470. With an upward escape from the range, a correction towards 0.6555 is not excluded, followed by a decline towards 0.6470. This is the first target.

BRENT

Brent is forming a consolidation range above 84.60. With an upward escape from the range, the wave might extend towards 87.50, from where the trend might continue to 88.20. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold continues developing a consolidation range around 2169.76. Today the range might expand towards 2184.80. Next, a decline wave could develop towards 2155.20.

S&P 500

The stock index has formed a consolidation range around 5247.0. With a downward escape from the range today, a decline wave to 5225.0 is expected. Once this level is reached, a correction link towards 5247.0 is not excluded (testing from below). A decline to 5195.5 is expected. This is a local target.