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Technical Analysis & Forecast 11.05.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a correction at 1.1000. A new structure of decline to 1.0963 is forming today. If this level breaks downwards, the potential for a wave of decline to 1.0930 could open, from where the trend might continue to 1.0903. This target is the first one.

Technical Analysis & Forecast 11.05.2023 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 completed a wave of correction to 1.2640. Today the market continues developing a wave of decline to 1.2600. If this level breaks downwards, the potential for a wave of decline to 1.2566 could open, from where the structure might continue to 1.2533. This target is the first one.

Technical Analysis & Forecast 11.05.2023 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 has completed a wave of correction to 133.88. A wave of growth to 135.80 could start today. And if this level also breaks upwards, a structure to 137.60 could develop, from where the trend might continue to 138.00.

Technical Analysis & Forecast 11.05.2023 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 continues developing a consolidation range around 0.8896. Growth to 0.8920 is expected today. If this level breaks upwards, the potential for growth to 0.8975 could open. This target is local.

Technical Analysis & Forecast 11.05.2023 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 wave of correction to 0.6795. Today the wave of decline could continue to 0.6740. And if this level also breaks downwards, the potential for a structure of decline to 0.6690 could open.

Technical Analysis & Forecast 11.05.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is forming a consolidation range around 76.60. Today the range could extend to 78.28. This target is the first one. Next, a decline to 74.74. is expected, followed by growth to 84.40. This target is local.

Technical Analysis & Forecast 11.05.2023 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 a wave of correction to 2048.00. A new wave of decline to 2014.00 could start today. And if this level also breaks downwards, the potential for a wave of decline to 1981.30 could open.

Technical Analysis & Forecast 11.05.2023 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 completed a wave of correction to 4154.7. A decline to 4052.0 could start today, from where the trend might continue to 3945.0. This is a local target.

Technical Analysis & Forecast 11.05.2023 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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