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Forex Technical Analysis & Forecast 18.08.2022

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.0170. Possibly, today the pair may expand the range down to 1.0142 and then correct to reach 1.0222. After that, the instrument may start another decline with the target at 1.0080.

Forex Technical Analysis & Forecast 18.08.2022 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”

After completing the ascending wave at 1.2141 along with the descending structure towards 1.2060, GBPUSD has formed a new consolidation range around the latter level. Possibly, the pair may break the range to the downside and form a new descending wave with the target at 1.1975.

Forex Technical Analysis & Forecast 18.08.2022 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is falling towards 134.04. Later, the market may form one more ascending wave to reach 134.74 and then resume trading downwards with the target at 133.00.

Forex Technical Analysis & Forecast 18.08.2022 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

Having finished the ascending wave at 0.9542 along with the descending impulse towards 0.9497, USDCHF is forming a new consolidation range above the later level. Possibly, the pair may break the range to the downside and correct with the target at 0.9475.

Forex Technical Analysis & Forecast 18.08.2022 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 has completed the descending wave at 0.6911. Today, the pair may grow towards 0.6960, or even extend this correction to test 0.7000 from below. After that, the instrument may resume falling with the target at 0.6900.

Forex Technical Analysis & Forecast 18.08.2022 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is forming the ascending structure towards 95.00 along with the descending wave towards 93.00, thus forming a new consolidation range around the latter level. Possibly, today the asset may expand the range down to 91.60. Later, the market may resume trading upwards with the target at 96.55, or even extend this structure up to 101.11.

Forex Technical Analysis & Forecast 18.08.2022 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has broken the consolidation range downwards. Possibly, the metal may reach 1757.11 and then grow to test 1780.00 from below. Later, the market may form a new descending wave with the target at 1751.55.

Forex Technical Analysis & Forecast 18.08.2022 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 falling towards 4248.4. After that, the instrument may start a new correction up to 4288.0 and then resume falling with the short-term target at 4161.0.

Forex Technical Analysis & Forecast 18.08.2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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