Forex Technical Analysis & Forecast 06.02.2023

forex-technical-analysis-&-forecast-0602.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0818. Today a consolidation range may form around this level. With an escape upwards, a link of correction to 1.0930 is not excluded. With an escape downwards, a pathway to 1.0760 should open, from where the wave might continue to 1.0700.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of decline to 1.2104. A consolidation range has formed around this level at the moment. Today the range has extended to 1.2030. Then a technical return to 1.2104 is not excluded (a test from below). Then a decline to 1.2000 should follow, from where the trend should continue to 1.1950.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of growth to 132.20. Today a consolidation range should form around this level. With an escape upwards, the pair should grow to 135.15. With an escape downwards, a pathway down to 127.10 might open.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair has completed a wave of growth to 0.9250. Today the market is forming a consolidation range around this level. With an escape downwards, a link of correction to 0.9180 is not excluded. With an escape upwards, growth should continue to 0.9300, from where the wave might extend to 0.9350.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a structure of decline to 0.6960. Today a consolidation range should form under this level. With an escape upwards, a link of correction to 0.7000 should follow. With an escape downwards, the wave of correction should continue to 0.6860, from where the wave might extend to 0.6790.

BRENT

Brent has completed a wave of decline to 79.70. Today a wave of growth to 82.50 is expected. Then a correction to 81.00 and growth to 85.00 should follow. The goal is first.

XAUUSD, “Gold vs US Dollar”

Gold has completed a structure of a wave of decline to 1860.00. Today a consolidation range is forming above this level. With an escape downwards, a decline to 1844.20 should follow. With an escape upwards, a link of correction to 1915.00 is not excluded. Then a decline to 1800.00 might happen.

S&P 500

The stock index has completed an impulse of decline to 4122.0 and a correction to 4183.0. Today the market is performing a new impulse of decline to 4055.0. After this level is reached, a link of correction to 4120.0 is not excluded (a test from below). Then a decline to 4000.0 should follow.

Source: Roboforex

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