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Technical Analysis & Forecast 07.06.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0666 and a correction to 1.0700. Today the market continues developing a structure of decline to 1.0632. After it reaches this level, a link of growth to 1.0666 (a test from below) will not be excluded, followed by a decline to 1.0602. This is a local target.

Technical Analysis & Forecast 07.06.2023 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 continues developing a wave of decline to 1.2358. After it reaches this level, a link of correction to 1.2444 will not be excluded. Next, a decline to 1.2233 might follow.

Technical Analysis & Forecast 07.06.2023 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 structure of a corrective link to 139.98. Today the market has performed a link of decline to 139.27. At the moment, a consolidation range is forming around this level. The range might extend to 138.53. Next, growth to 139.27 and a decline to 138.15 might form.

Technical Analysis & Forecast 07.06.2023 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 has completed a wave of correction to 0.9062. Today a link of growth to 0.9090 could form. If this level breaks upwards as well, the potential for a rise to 0.9111 might open, from where the trend could continue to 0.9150.

Technical Analysis & Forecast 07.06.2023 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 continues developing a consolidation range around 0.6666. Today it might extend upwards to 0.6702. Next, a decline to 0.6646 is expected, from where the trend could continue to 0.6575. This is the first target.

Technical Analysis & Forecast 07.06.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent continues forming a consolidation range around 76.26. A link of decline to 74.40 is not excluded today. Next, growth to 78.22 is expected. And after the price escapes this range upwards, the potential for a rise to 82.02 could open. This is a local target.

Technical Analysis & Forecast 07.06.2023 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold continues developing a consolidation range around 1957.50. A link of growth to 1968.00 might form today. The correction will end there. After it is over, a new structure of decline to 1946.00 might follow, from where the trend could continue to 1931.40. This is the first target.

Technical Analysis & Forecast 07.06.2023 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index is forming a consolidation range around 4272.2. Today the market might escape the range downwards and continue developing the wave to 4242.5. This is the first target. Next, a rise to 4272.2 (a test from below) and a decline to 4191.1 might follow.

Technical Analysis & Forecast 07.06.2023 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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