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Forex Technical Analysis & Forecast 31.01.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of correction to 1.0913. Today the market has formed a structure of decline to 1.0838. At the moment, the market is forming a consolidation range around this level. An escape downwards is expected, followed by the development of a structure of decline to 1.0800, from where the wave might continue to 1.0780. The goal is local.

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”

The currency pair has corrected to 1.2416. Today a structure of decline to 1.2340 has formed. At the moment a consolidation range is forming around this level. An escape downwards to 1.2310 is expected. Then growth to 1.2340 might follow. After that a decline to 1.2270 might happen. The goal is local.

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

USDJPY, “US Dollar vs Japanese Yen”

The currency pair keeps forming a consolidation range around 130.00. Today a link of growth to 130.87 is expected. Then a decline to 130.00 might follow. And then growth to 131.40 might happen.

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

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a correction to 0.9181. Today a structure of growth has formed to 0.9255. At the moment, the consolidation range is forming around this level. A link of decline to 0.9220 is not excluded. Then growth to 0.9277 might follow, from where the wave to 0.9400 should develop. The goal is local.

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

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a structure of decline to 0.7062. At the moment, a consolidation range has formed around this level. With an escape downwards, practically a pathway to 0.7000 will open. The goal is local.

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

BRENT

Brent continues correcting. At the moment, a consolidation range has formed around 86.22. Today the correction might end at 84.00, and a new wave of growth to 90.30 should start, from where the wave might extend to 93.00. Then the quotes might correct to 88.95.

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 demonstrated a structure of decline to 1934.40. Today the market has demonstrated a structure of decline to 1919.19. This level is likely to be broken away, and a structure of decline should continue to 1900.00. The goal is local.

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

S&P 500

The stock index has formed a consolidation range around 4040.0. Today the quotes might escape the range and drop to 3999.0. After this level is reached, a correction to 4040.0 should start, followed by a decline to 3888.0. The goal is local.

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


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