Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

The EUR/USD pair is currently in a consolidation phase around 1.0650 without any strong trend. A price rise to 1.0693 is not ruled out, followed by a decline to the local target of 1.0585. After the price reaches this level, a correction to 1.0733 could start, followed by a decline to 1.0440.

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

The GBP/USD pair has completed a decline wave, reaching 1.2298. Today, the market may correct to 1.2370 (testing from below). After the correction is over, a decline to 1.2273 is expected. A breakout below this level will open the potential for a wave to 1.2255. Practically, the trend may continue to 1.2200.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming a consolidation range around 154.67 without experiencing any strong trend. An upward breakout will open the potential for a wave to 155.00. With a downward breakout, a correction towards 154.33 could occur, followed by a rise to the first target of 155.75.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has formed a consolidation range around 0.9100. An upward breakout will open the potential for a wave to 0.9130, with the trend potentially continuing to the local target of 0.9195. With a downward breakout, a correction towards 0.9060 could occur, followed by a further growth wave towards 0.9195.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is currently in a consolidation phase around 0.6418. A downward breakout will open the potential for a wave to 0.6300. With an upward breakout, a correction towards 0.6471 could occur, followed by the trend continuation towards 0.6300.

Brent

Brent is currently in a consolidation phase around 87.17. With a downward breakout, the price could continue correcting towards 84.40. An upward breakout will open the potential for a wave to 90.00, from where the trend could develop to 95.00.

XAU/USD, “Gold vs US Dollar”

Gold has exited the consolidation range downwards and completed a decline wave, reaching 2295.63. Today, the market is forming a new consolidation range above this level. The price is expected to break below the range and maintain its downward trajectory to 2214.04, with the trend potentially continuing to 2200.22. This is the target of the corrective wave. Once the correction is over, another growth wave could start, aiming for 2550.00.

S&P 500

The stock index has formed a consolidation range around 4990.0. A downward breakout will open the potential for a wave to 4909.0. With an upward breakout, a correction to 5050.0 (testing from below) could follow. Subsequently, the price might decline by the trend to the first target of 4811.0.