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Forex Technical Analysis & Forecast 17.08.2022

EURUSD, “Euro vs US Dollar”

Having expanded the consolidation range down to 1.1022, EURUSD is growing to expand it upwards. Possibly, the pair may reach 1.0222 and then start another decline with the target at 1.0080.

Forex Technical Analysis & Forecast 17.08.2022 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 continues trading upwards to reach 1.2122 and may later form a new descending wave with the target at 1.1970.

Forex Technical Analysis & Forecast 17.08.2022 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 expanding the consolidation range up to 134.54, USDJPY is expected to resume falling to break 133.15 and then continue trading downwards with the short-term target at 130.80.

Forex Technical Analysis & Forecast 17.08.2022 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 has formed a new consolidation range above 0.9484. Possibly, the pair may break the range to the downside and correct towards 0.9448. After that, the instrument may start another growth with the target at 0.9530.

Forex Technical Analysis & Forecast 17.08.2022 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 around 0.7014. Today, the pair may expand the range down to 0.6984 and then start another growth to return to 0.7014. After that, the instrument may resume falling with the target at 0.6903.

Forex Technical Analysis & Forecast 17.08.2022 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent continues forming the descending structure. Possibly, today the pair may reach 91.60 and consolidate there. Later, the market may break the range to the upside and resume trading upwards with the first target at 101.11.

Forex Technical Analysis & Forecast 17.08.2022 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 still consolidating around 1780.00. Possibly, the metal may break the range to the downside and continue the correction towards 1751.30. Later, the market may form one more ascending wave with thew target at 1822.00.

Forex Technical Analysis & Forecast 17.08.2022 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 has completed the ascending wave at 4327.0; right now, it is consolidating below this level. If later the price breaks the range to the downside, the market may start a new decline to break 4285.0 and then continue falling with the first target at 4247.7.

Forex Technical Analysis & Forecast 17.08.2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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