Forex Technical Analysis and Forecast: Majors, Equities, and Commodities

In the fast-paced world of financial markets, traders and investors rely on various tools and analyses to make informed decisions. One such tool is technical analysis, which involves studying price charts and historical data to predict future price movements. In this article, we’ll explore the latest technical analysis and forecasts for major currency pairs (forex), equities, and commodities.

Forex Analysis:

1. EUR/USD (Euro vs. US Dollar):
   • EUR/USD recently completed a downward wave to 1.0616.
   • A correction to 1.0686 is expected, followed by another decline to 1.0606.
   • The trend could continue to 1.0570 after this correction.
2. GBP/USD (Great Britain Pound vs. US Dollar):
   • GBP/USD completed a downward wave to 1.2233.
   • A correction to 1.2310 is possible, followed by a new decline to 1.2190.
3. USD/JPY (US Dollar vs. Japanese Yen):
   • USD/JPY completed a corrective phase at 147.31.
   • The market is forming a growth wave to 148.38.
   • A potential rise to 149.44 is the first target, with a subsequent decline to 145.30.
4. USD/CHF (US Dollar vs. Swiss Franc):
   • USD/CHF completed a growth wave to 0.9077.
   • A consolidation range has formed at 0.9020-0.9052.
   • A breakout downward may lead to a correction to 0.8915, while an upward escape could result in further gains towards 0.9100.
5. AUD/USD (Australian Dollar vs. US Dollar):
   • AUD/USD experienced a decline to 0.6385.
   • A correction to 0.6440 may occur, followed by another decline to 0.6346.
   • The overall trend could continue to 0.6315.

Commodity Analysis:

6. Brent:
   • Brent crude oil completed a correction to 91.41.
   • A wave of growth to 97.07 is expected.
   • Subsequently, a correction to 89.40 may occur, followed by a rise to 103.75, which is a local target.
7. XAU/USD (Gold vs. US Dollar):
   • Gold is in the midst of a downward wave to 1912.48.
   • After reaching this level, a correction to 1930.09 might form.
   • A new wave of decline to 1894.77 is a local target.

Equity Analysis:

8. S&P 500:
   • The S&P 500 stock index completed a wave of decline to 4326.9.
   • This level serves as a local target.
   • A consolidation range may form above this level.
   • An upward escape could lead to a correction to 4395.2, followed by a decline to 4270.3, the first target.

Forex technical analysis provides valuable insights for traders and investors. The forecasts for major currency pairs, equities, and commodities are essential tools in navigating the complex and dynamic world of financial markets. However, it’s important to remember that markets are influenced by numerous factors, and these analyses are just one piece of the puzzle. Traders should use them in conjunction with other forms of analysis and risk management strategies to make well-informed decisions.