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Forex Technical Analysis & Forecast 12.08.2022

EURUSD, “Euro vs US Dollar”

EURUSD is falling to reach 1.0270. After that, the instrument may form one more ascending wave with the target at 1.0355, or even extend this structure up to 1.0400.

Forex Technical Analysis & Forecast 12.08.2022 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”

GBPUSD is trading downwards to reach 1.2158. Later, the market may form one more ascending wave with the target at 1.2311.

Forex Technical Analysis & Forecast 12.08.2022 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After finishing the descending wave at 131.73 along with the ascending structure towards 133.48, USDJPY is expected to start a new decline with the target at 131.30, or even extend this structure down to 129.13.

Forex Technical Analysis & Forecast 12.08.2022 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is growing to reach 0.9464. After that, the instrument may start a new correction down to 0.9410 and then resume trading upwards with the short-term target at 0.9487.

Forex Technical Analysis & Forecast 12.08.2022 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 is consolidating below 0.7126. Possibly, the pair may resume falling with the target at 0.7072, or even extend this structure down to 0.7000.

Forex Technical Analysis & Forecast 12.08.2022 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After finishing the ascending structure at 99.12 and forming a new consolidation range there, Brent has broken it to the upside. Today, the asset may continue trading upwards with the short-term target at 103.07.

Forex Technical Analysis & Forecast 12.08.2022 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 forming a new consolidation range around 1800.00. Possibly, today the metal may break the range to the downside and correct to test 1751.30 from above. Later, the market may resume trading upwards with the target at 1822.40.

Forex Technical Analysis & Forecast 12.08.2022 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 is forming the first descending wave towards 4182.2. Later, the market may correct up to 4221.0 and then resume trading downwards with the short-term target at 4140.4.

Forex Technical Analysis & Forecast 12.08.2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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