Technical Analysis & Forecast 01.04.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair completed a decline wave to 1.0767 and by now has formed a growth impulse to 1.0804. Today the market is correcting towards 1.0781. Practically, the market has set the frames for a consolidation range. With an upward escape from the range, the growth wave might extend to 1.0823. A downward escape could open the potential for a decline wave to 1.0700. This is a local target.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBPUSD pair continues forming a consolidation range around 1.2620. With an upward escape from the range, the growth wave could continue to 1.2712, from which level the trend might extend towards 1.2730. With a downward escape, the wave could continue to 1.2525.

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair continues developing a consolidation range around 151.45 without any obvious trend. A decline link could develop towards 150.95 today. Next, a growth wave to 151.50 might follow. If this level also breaks upwards, the potential for a wave to 152.00 might open, from which level the trend could extend towards 152.80.

USDCHF, “US Dollar vs Swiss Franc”

The USDCHF pair continues developing a consolidation range around 0.9033. A decline link towards 0.8990 is not excluded today. Practically, a correction wave might form. Next, a new growth structure could develop towards 0.9045. And if this level also breaks, the potential for a wave to 0.9100 might open. This is the first target.

AUDUSD, “Australian Dollar vs US Dollar”

The AUDUSD pair continues developing a consolidation range around 0.6505. With an upward escape, a growth link towards 0.6555 might form, from which level the wave could continue to 0.6570. With a downward escape, the potential for a wave towards 0.6484 might open.

BRENT

Brent has broken the 86.55 level and continues developing the wave towards 87.77. Once this level is reached, a correction link to 86.15 is not excluded. Next, a rise to 89.00 could follow, from where the trend might extend to 90.40. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has completed a growth wave towards 2265.35. A consolidation range could form at the top of the growth wave today. With a downward escape, a correction to 2207.00 could begin. This is the first target.

S&P 500

The stock index has broken a consolidation range upwards. By now, the quotes have completed a growth wave to 5285.5. Today the pair might rise to 5295.0. Next, it could drop to 5285.0 (testing from above), after which another growth wave to 5303.0 is not excluded.