Technical Analysis & Forecast 30.08.2023

EURUSD, “Euro vs US Dollar”

EURUSD got supported at the level of 1.0783 and performed a link of growth to 1.0836. At a certain point, the market formed a consolidation range around this level. Exiting the range upwards, the market continued the corrective wave to 1.8900. Today it is forming a link of decline to 1.0840 (with a test from above). Next, another link of correction to 1.0907 might follow. At this level, the corrective potential will be exhausted. Next, a new wave of decline to 1.0780 is expected to start, from where the trend could continue to 1.0700.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD got supported at the level of 1.2564 and performed a link of growth to 1.2607. At a certain point, the market formed a consolidation range around this level. Exiting the range upwards, the market continued the correction to 1.2651. Today a link of decline to 1.2607 is expected (with a test from above). Next, the correction could continue to 1.2663. After it is over, a new wave of decline to 1.2560 might begin, from where the trend could continue to 1.2484.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY performed a wave of growth to 147.35 and a wave of decline to 145.68. A link of growth to 147.35 could follow today. A breakout of this level upwards could open the potential for a rise to 148.18.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a wave of correction to 0.8774. A link of growth to 0.8815 could follow today (with a test from below). Next, the correction might continue to 0.8757. After it is over, a new wave of growth to 0.8900 might start.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has performed a link of correction to 0.6484. A link of decline to 0.6444 is not excluded today (with a test from above). Next, the correction could continue to 0.6500, after which the quotes might go down by the trend to 0.6316.

BRENT

Brent has broken the 84.50 level upwards and continues the wave to 85.73. After it reaches the mark, a link of decline to 84.50 is not excluded (with a test from above), followed by a rise to 86.82. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has extended the corrective wave to 1937.97. A decline to 1919.30 might follow today (with a test from above). Next, the correction could continue to 1953.60, and the trend might then extend to 1904.14. This is a local target.

S&P 500

The stock index has continued the correction to 4500.0. Today it might drop to 4428.6 (with a test from above). Next, a link of correction to 4527.5 is not excluded, followed by a decline within the trend to 4311.0.