Analysis
Forex Technical Analysis & Forecast 24.05.2022
EURUSD, “Euro vs US Dollar”
After forming a new consolidation range around 1.0540 and breaking it to the upside, EURUSD is expected to continue the correction up to 1.0719. Later, the market may resume falling to break 1.0460 and then co…
EURUSD, “Euro vs US Dollar”
After forming a new consolidation range around 1.0540 and breaking it to the upside, EURUSD is expected to continue the correction up to 1.0719. Later, the market may resume falling to break 1.0460 and then continue trading downwards with the target at 1.0300.
GBPUSD, “Great Britain Pound vs US Dollar”
Having formed a new consolidation range around 1.2474, GBPUSD is expected to form one more ascending structure towards 1.2622 and then fall to return to 1.2474. After that, the instrument may start another growth to reach 1.2747 and resume trading downwards with the target at 1.2155.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still falling towards 126.20. After that, the instrument may start a new correction with the target at 129.00.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken 0.9696 and may later continue the correction down to 0.9620. After that, the instrument may resume trading upwards with the target at 0.9920.
AUDUSD, “Australian Dollar vs US Dollar”
After forming a new consolidation range around 0.7043 and breaking it to the upside, AUDUSD is expected to continue the correction up to 0.7131. Later, the market may resume trading downwards with the target at 0.6960.
BRENT
Having expanded the consolidation range up to 114.37 and then completed the descending structure at 112.00, Brent is expected to continue growing with the target at 118.36 or even extend this structure up to 122.65.
XAUUSD, “Gold vs US Dollar”
After forming a new consolidation range around 1847.88 and expanding it up to 1865.85, Gold has completed the correctional structure to return to 1847.88. Today, the metal may move upwards with the short-term target at 1888.08. After that, the instrument may correct towards 1865.85 and then resume growing to reach 1909.80.
S&P 500
The S&P index is still consolidating around 3952.8. Possibly, the asset may grow towards 4084.5. Later, the market may resume trading downwards to break 3860.0 and then continue falling with the first target at 3655.7.
