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Forex Technical Analysis & Forecast 05.05.2022

EURUSD, “Euro vs US Dollar”

After breaking 1.0580 to the upside, EURUSD is expected to correct up to 1.0670. Later, the market may form a new descending structure to return to 1.0580 and then start another growth with the target at 1.0696.

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”

Having broken 1.2580 upwards, GBPUSD is expected to correct up to 1.2709. After that, the instrument may fall to return to 1.2580 and then resume moving upwards with the target at 1.2750.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 129.48 downwards and may later correct to reach 128.55. After that, the instrument may grow to return to 129.48 and then start another decline with the target at 127.78.

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

USDCHF, “US Dollar vs Swiss Franc”

Having completed the descending impulse at 0.9744, USDCHF is consolidating around this level. Later, the market may break the range to the downside and resume the correction with the target at 0.9640.

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

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.7156 upwards. AUDUSD has reached the short-term correctional target at 0.7240. Possibly, today the pair may resume falling to return to 0.7156 and then start a new growth with the target at 0.7277.

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

BRENT

Brent has broken 110.25 to the upside; right now, it is still moving upwards with the short-term target at 115.60. After that, the instrument may fall towards 110.30 and then resume trading upwards with the target at 117.00.

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

XAUUSD, “Gold vs US Dollar”

After breaking 1883.60 to the upside, Gold continues growing with the short-term target at 1904.40. Later, the market may fall to return to 1883.60 and then form one more ascending structure with the target at 1915.77.

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

S&P 500

The S&P index has finished the correction at 4303.4. Today, the asset may extend this correction up to 4400.0 and then resume trading downwards with the first target at 3946.8.

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


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