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Forex Technical Analysis & Forecast 20.05.2022

EURUSD, “Euro vs US Dollar”

After extending the correction up to 1.0606 and then finishing the first descending impulse at 1.0555, EURUSD has completed another correctional structure at 1.0580. Later, the market may fall to break 1.0500 and then continue trading downwards with the target at 1.0300.

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 completed another correctional structure at 1.2520 along with the descending impulse towards 1.2440, GBPUSD is correcting upwards and may soon reach 1.2484. After that, the instrument may form a new descending impulse to break 1.2323 and then continue falling with the target at 1.2100.

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 is consolidating around 127.91. Possibly, today the pair may fall to reach 127.00 and then start a new growth with the target at 129.06.

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

USDCHF, “US Dollar vs Swiss Franc”

After finishing the correctional wave at 0.9700, USDCHF is expected to consolidate there. Later, the market may break the range to the upside and start another growth to reach 0.9888. After that, the instrument may resume trading downwards with the target at 0.9780.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has rebounded from 0.6942; right now, it is growing towards 0.7083 and may later resume falling with the target at 0.6942.

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

BRENT

Brent is forming one more ascending impulse towards 114.41. Later, the market may start another decline to reach 110.17 and then resume trading upwards with the target at 122.65.

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

XAUUSD, “Gold vs US Dollar”

Gold is moving upwards to reach 1859.85. After that, the instrument may correct towards 1834.00 and then resume growing with the target at 1875.88.

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

S&P 500

After completing another descending structure at 3860.0, the S&P index is expected to grow towards 3975.5. Later, the market may resume trading downwards with the first target at 3655.5.

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


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