Technical Analysis & Forecast 28.03.2023
EURUSD, “Euro vs US Dollar”
The currency pair has corrected to 1.0818. Today the market is forming a consolidation range under this level. A decline to 1.0690 is expected. And with a breakaway of this level downwards as well a pathway to a wave to 1.0550 should open. The target is local.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair has completed a correctional structure ending at 1.2320. Today the market is forming a consolidation range under this level. If the price escapes it downwards, a new wave of decline to 1.2185 should start. The target is first. After the price reaches this level, a new structure of growth to 1.2255 should start developing.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair has completed a structure of decline to 130.50. Today the market is forming a consolidation range above this level. With an escape from the range upwards, a pathway up to 131.66 should open. The target is first. Then a correction to 131.00 and growth to 132.80 should happen.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair has corrected to 0.9136. Today a consolidation range is forming above this level. We expect the price to escape it upwards and continue the wave to 0.9222, from where a structure of growth to 0.9242 might start developing.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair has completed a wave of correction to 0.6690. Today the market is consolidating under this level. A wave of decline to 0.6595 should begin. Then a correction to 0.6677 is not excluded, followed by a decline to 0.6588.
BRENT
Brent has broken 75.95 upwards and continues developing the wave aiming at 79.70. After it reaches the level, a link of correction to 76.00 might follow. And then growth to 81.81 might happen.
XAUUSD, “Gold vs US Dollar”
Gold has completed a wave of decline to 1944.74. Today the market might correct to 1974.30. After the correction is over, a new wave of decline to 1921.60 should start, from where the structure might develop to 1870.20.
S&P 500
Today the stock index continues forming a consolidation range under 3999.0. The range might extend downwards to 3885.5. Then it might grow to 3966.0.
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.