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Forex Technical Analysis & Forecast 08.04.2021

EURUSD, “Euro vs US Dollar”

The currency pair completed a wave of decline to 1.1901. Today the market is trading in a structure of declining to 1.1820, after which growth to 1.1867 should follow. Then another wave of declining to 1.1806 is likely to develop.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair keeps developing another declining wave to 1.3690. Upon reaching this level, the price should form a link of correction to 1.3804 and then develop another declining wave to 1.3600.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

The currency pair has completed growth to 77.77. Today we expect another wave of decline to 76.35 to develop, followed by a correction to 77.22, then a decline to 75.26.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

The currency pair keeps forming a consolidation range around 109.73. With an escape upwards, it might correct to 110.39. With an escape downwards, the downtrend might continue to 108.60.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a structure of a declining wave to 0.9300. Today the market is trading in a consolidation range around this level. With an escape upwards, it might grow to 0.9393. With an escape downwards, the trend might continue to 0.9200.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair is trading in a consolidation range under 0.7655. With an escape downwards, it might further decline to 0.7454. Then growth to 0.7655 should follow.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Oil keeps developing a consolidation range around 63.00 with no clear trend. Today the decline might continue to 60.00. After this level is reached, a wave of growth to 65.50 should start.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold keeps developing a wave of growth to 1755.73. At the moment, the market is forming a consolidation range around 1735.00. We expect an escape upwards and trend continuation to 1755.73. After this level is reached, a link of correction to 1720.20 should follow. Then we expect growth to 1900.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index has formed a consolidation range around 4077.3. Today the market is escaping it upwards. Practically, a potential for growth to 4160.3 appears. The goal is local. After this level is reached, we expect a wave of decline towards 3860.0 to start.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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