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Technical Analysis & Forecast 28.05.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair has exited a consolidation range upwards, considering a further correction towards 1.0881. Once the correction is complete, a new decline wave aiming for 1.0803 could start, followed by a rise towards 1.0840 (testing from below). Subsequently, the trend is expected to continue towards 1.0764, which is a local target.

Technical Analysis & Forecast 28.05.2024 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 GBPUSD pair has exited a consolidation range upwards, considering a further correction towards 1.2814. Once the correction is complete, a new decline wave could start, aiming for 1.2674 and potentially continuing towards 1.2605. This is the first target of the decline wave.

Technical Analysis & Forecast 28.05.2024 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 USDJPY pair is forming a consolidation range around 156.89. The market has extended the range towards 156.61. Today, a decline towards 156.51 (testing from above) is expected. Following this, a rise towards 157.51 is not ruled out, potentially continuing towards 158.16. Subsequently, a new decline wave could start, aiming for 155.90 as the first target.

Technical Analysis & Forecast 28.05.2024 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 USDCHF pair has exited a consolidation range downwards. A decline towards 0.9113 is possible today. Practically, a corrective wave is developing. Once the correction is complete, a new growth wave could start, aiming for 0.9190 as the local target.

Technical Analysis & Forecast 28.05.2024 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 AUDUSD pair has exited a consolidation range upwards, correcting towards 0.6672. Today, a consolidation range might form below this level. With a downward breakout, a new decline wave could start, aiming for 0.6582 as the first target of the decline wave.

Technical Analysis & Forecast 28.05.2024 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has completed a growth wave, reaching 83.05. Today, a correction towards 81.75 is possible. Once the correction is complete, a new growth wave could start, aiming for 84.00 and potentially continuing towards 85.30. This is the first target of the uptrend.

Technical Analysis & Forecast 28.05.2024 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 corrective wave, reaching 2358.50. Today, a decline towards 2341.44 could follow. Practically, a new consolidation range is forming. With an upward breakout, the correction might continue towards 2384.80. A downward breakout will open the potential for a wave towards 2320.00. This is the first target.

Technical Analysis & Forecast 28.05.2024 XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index continues to develop a correction. A rise towards 5334.0 is not ruled out. Once the correction is complete, a new decline wave could start, aiming for 5252.0 and potentially continuing towards 5175.0. This is the first target of the decline wave.

Technical Analysis & Forecast 28.05.2024 US500Cash
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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