Technical Analysis & Forecast 28.08.2023

EURUSD, “Euro vs US Dollar”

EURUSD has performed a wave of decline to 1.0765. Today the market is forming a structure of correction to 1.0815 (with a test from below). Next, a decline to 1.0740 is expected, from where the trend might continue to 1.0711. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a wave of decline to 1.2547. Today the market is developing a structure of correction to 1.2606. Next, a wave of decline to 1.2536 is expected, from where the trend could continue to 1.2490. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a wave of growth to 146.62. Today the market is forming a consolidation range under this level. A link of correction to 146.62 is not excluded, followed by a rise to 146.90, from where the trend could continue to 147.50.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a wave of growth to 0.8875. A corrective link of decline to 0.8823 is not excluded, followed by a new wave of growth to 0.8909. This is a local target.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed a wave of decline to 0.6380. Today a correction to 0.6444 might develop. After it is over, a decline to 0.6372 is expected, from where the trend could continue to 0.6372.

BRENT

Brent has completed a wave of growth to 84.39. Today the market is forming a consolidation range under this level. The price is expected to break it upwards, aiming at 85.00. And a breakout of this level upwards might open the potential for a wave of growth to 86.76, from where the trend could continue to 86.76. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1903.70. Today the market is forming a corrective structure to 1918.30. After the price reaches this level, a link of decline to 1901.50 might follow. Next, a rise to 1911.80 and a decline to 1900.50 are expected. This is a first target.

S&P 500

The stock index has completed a wave of decline to 4356.0. Today the market is forming a corrective structure to 4434.0. After the correction is over, a wave of decline to 4265.5 is expected, from where the trend could continue to 4230.0. This is a local target.