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Technical Analysis & Forecast 02.08.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a wave of decline to the 1.0955 level and a link of correction to the 1.1018 level. Today another link of decline to 1.0950 could develop. A wide consolidation range is forming around 1.0999. With an upward breakout, a correction could continue to the 1.1122 level. A downward breakout could open the potential for trend continuation to the 1.0888 level.

Technical Analysis & Forecast 02.08.2023 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”

GBPUSD has completed a structure of decline to the 1.2742 level. At the moment, a consolidation range is forming above this level. With an upward breakout, growth to the 1.2825 level could follow. A downward breakout will open the potential for a decline to 1.2660. Once the price hits this level, a link of growth to 1.2825 is expected.

Technical Analysis & Forecast 02.08.2023 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a wave of growth to the 143.50 level. Today the market is forming a consolidation range below this level. With a downward breakout of the range, a correction to the 142.06 level could start with the prospect of continuing the correction to the 140.66 level, followed by another wave of growth to the 144.62 level.

Technical Analysis & Forecast 02.08.2023 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues to develop a consolidation range around the 0.8722 level without any strong trend. Today a link of growth to 0.8784 could start, followed by a decline to 0.8722 (a test from above). With a downward breakout, a link of correction to 0.8666 is possible. An upward breakout will open the potential for growth to 0.8888. This is the first target.

Technical Analysis & Forecast 02.08.2023 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues to develop a wave of decline to the 0.6572 level. Once the price reaches this level, a link of growth to 0.6624 (a test from below) is not excluded, followed by a decline by the trend to 0.6513.

Technical Analysis & Forecast 02.08.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent continues developing a wave of growth to the 87.22 level. After the price hits this level, a correction to 82.75 is expected to start, which could be followed by growth to 93.43 with the prospect of trend continuation to 97.00.

Technical Analysis & Forecast 02.08.2023 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 decline to the 1941.23 level. Today the market is forming a consolidation range above this level. With an upward breakout, a link of growth to the 1962.33 level could develop. A downward breakout will open the potential for a decline to 1923.12 with the prospect of trend continuation to 1914.44.

Technical Analysis & Forecast 02.08.2023 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 formed a consolidation range around the 4578.6 level. Today a decline to the 4555.5 level is possible. Another link of growth to 4578.6 (a test from below) could form next, followed by a decline to 4521.8.

Technical Analysis & Forecast 02.08.2023 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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