Technical Analysis & Forecast 03.03.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0576. The target is local. Today a correction to 1.0620 might form. After it is over, a decline to 1.0563 should follow.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a structure of decline to 1.1924. Today a link of correction to 1.1986 is not excluded. After the correction is over, a structure of decline might develop to 1.1910.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of growth to 137.07. Today it may correct to 136.33. After the correction is over, a new link of growth should develop to 137.55.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair continues forming a consolidation range around 0.9418. A correction downwards out of the range to 0.9320 is not excluded. With an escape upwards, a pathway to 0.9512 should open. The target is local.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a structure of decline to 0.6706. Today the market is forming a correction to 0.6751. After it is over, a wave of decline to 0.6694 should start.

BRENT

Brent has completed a wave of growth to 84.90. Today the market is forming a consolidation range under this level. With an escape downwards, a link of correction to 83.33 is not excluded. With an escape upwards, a pathway up to 85.44 should open. The target is local.

XAUUSD, “Gold vs US Dollar”

Gold has completed a link of decline to 1804.70. Today we expect a structure of correction to 1847.77. After this level is reached, a link of decline to 1805.00 should start, from where the wave might continue to 1765.65.

S&P 500

The stock index has completed a link of decline to 3921.0. Today a correction to 3999.0 is forming. After this level is reached, a new structure of decline to 3878.0 should begin, from where the wave might continue to 3855.0.