Forex Technical Analysis & Forecast 04.05.2022
EURUSD, “Euro vs US Dollar”
After finishing the correctional wave at 1.0655, EURUSD is forming a new descending structure to break 1.0407 and may later continue trading downwards with the target at 1.0373.
GBPUSD, “Great Britain Pound vs US Dollar”
Having completed the correctional wave at 1.2570, GBPUSD is falling to break 1.2444 and may later continue moving downwards with the target at 1.2377.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished the correction at 130.44; right now, it is forming a new descending wave towards 129.69. After that, the instrument may break this level and start another decline with the target at 129.09.
USDCHF, “US Dollar vs Swiss Franc”
Having completed the correction at 0.9720, USDCHF is forming another ascending wave towards 0.9830. Later, the market may start one more correction with the target at 0.9700.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD, “Australian Dollar vs US Dollar”
BRENT
Brent is correcting towards 103.00 and may later start another growth to break 110.00. After that, the instrument may continue trading upwards with the short-term target at 117.00.
XAUUSD, “Gold vs US Dollar”
After finishing the correctional wave at 1850.50, Gold has completed the ascending impulse towards 1877.00 along with another correction to reach 1862.50. Possibly, the metal may form one more ascending structure with the target at 1887.35.
S&P 500
The S&P index has reached the short-term downside target at 4062.0. Today, the asset may correct towards 4230.0 and then resume trading downwards with the first target at 3946.8.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.