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Forex Technical Analysis & Forecast 19.08.2022

EURUSD, “Euro vs US Dollar”

EURUSD has finished the descending wave at 1.0080; right now, it is consolidating around this level. If later the price breaks the range to the downside, the market may resume falling towards 1.0020; if to the upside – start another correction with the target at 1.0140.

Forex Technical Analysis & Forecast 19.08.2022 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 descending wave at 1.1906, GBPUSD is forming a new consolidation range around this level. If later the price breaks the range to the downside, the market may resume trading downwards to reach 1.1877; if to the upside – start a new correction with the target at 1.1955.

Forex Technical Analysis & Forecast 19.08.2022 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 has finished the ascending wave at 136.36; right now, it is consolidating around this level. If later the price breaks the range to the upside, the market may resume growing towards 137.47; if to the downside – start another correction with the target at 134.00.

Forex Technical Analysis & Forecast 19.08.2022 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9555 and forming a new consolidation range around this level, USDCHF has broken it upwards and may soon continue growing towards 0.9610. Later, the market may fall to return to 0.9555 and then form one more ascending structure with the target at 0.9625.

Forex Technical Analysis & Forecast 19.08.2022 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 0.6885; right now, it is consolidating there. Today, the pair may break the range to the downside and start a new decline with the target at 0.6834, or even extend this structure down to 0.6814.

Forex Technical Analysis & Forecast 19.08.2022 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Having formed a new consolidation range around 95.95 and breaking it upwards, Brent continues growing to reach 100.20. After that, the instrument may start another correction down to 96.00 and then resume trading upwards with the target at 101.11.

Forex Technical Analysis & Forecast 19.08.2022 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 completed the descending wave at 1757.33; right now, it is consolidating there. If later the price breaks the range to the downside, the market may resume falling towards 1743.83; if to the upside – form one more ascending structure with the target at 1777.00.

Forex Technical Analysis & Forecast 19.08.2022 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 19.08.2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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