Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

EUR/USD got supported at 1.0670 and performed a link of corrective growth to 1.0735. Upon reaching this level, and with the current fundamental background, the market started developing a new declining wave by the downtrend. By now, the quotes have completed an impulse of decline to 1.0616. Today the market is forming a consolidation range above this level. An escape downwards to 1.0575 from this range is expected, from where the trend could continue to 1.0555.

GBP/USD, “Great Britain Pound vs US Dollar”

GBP/USD completed a correction to 1.2415 and started developing a wave of decline by the downtrend. By now, the quotes have reached the 1.2304 level. Today the market is forming a consolidation range above it. The quotes are expected to break the range downwards and extend it to 1.2233, from where the wave could extend to 1.2188.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY has completed a link of growth to 148.33. At the moment, the market is forming a consolidation range around this level. The quotes are expected to break the range upwards to 149.19 from where the trend could continue to 149.44.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has completed a wave of correction to 0.8933. Next, the price performed a wave of growth to 0.9000. Today the market is forming a consolidation range under this level. An escape from the range upwards to 0.9035 is expected, from where the trend could continue to 0.9053. Next, a correction to 0.8933 might start.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has completed a correction at 0.6510. Today the market continues developing a new wave of decline. By now, the market has performed an impulse of decline to 0.6404. The decline might extend to 0.6373, from where the trend could continue to 0.6333.

Brent

Brent continues developing a correction to 91.41. After the price reaches this level, a new wave of growth to 97.07 could begin, from where the trend might extend to 103.75.

XAU/USD, “Gold vs US Dollar”

Gold has completed a correction to 1947.00. Today the market performed an impulse of decline to 1924.14. At the moment, a consolidation range is forming above this level. An escape from the range downwards to 1910.30 is expected, from where the trend could continue to 1901.33.

S&P 500

The stock index corrected to 4465.0 and started developing a new wave of decline. By now, the pair has performed a declining impulse to 4402.2. A consolidation range is forming around this level today. An escape from the range downwards to 4339.3 is expected, from where the trend might extend to 4286.9. This is a local target.