Forex Technical Analysis & Forecast 20.02.2023
EURUSD, “Euro vs US Dollar”
The currency pair has completed a wave of decline to 1.0612 and a correction to 1.0693. Today the market is consolidating under this level. An escape upwards and further falling to 1.0580 are expected.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair has completed a wave of decline to 1.1914 and a correction to 1.2048. Today the market might be consolidating under this level. With an escape downwards, a pathway for a wave of decline to 1.1866 should open.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair has completed a wave of growth to 135.00. Today the market continues developing a correction. A decline to 133.33 is expected. Then a new wave of growth to 136.55 may start.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair has completed a correction to 0.9238. Today a link of decline to 0.9232 is not excluded. Then a new wave of growth to 0.9330 might begin.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair has completed a structure of decline to 0.6811 and a correction to 0.6896. Today a consolidation range might develop around this level. With an escape downwards, the wave of decline might extend to 0.6780.
BRENT
Brent has completed a wave of correction to 81.72. Today the market is developing a new wave of growth to 84.11. With a breakaway of this level upwards, a pathway to 86.30 will open, from where the trend might continue to 90.90.
XAUUSD, “Gold vs US Dollar”
Gold has completed a wave of decline to 1819.00 and a correction to 1844.00. Today a decline to 1815.00 and growth to 1850.00 might follow.
S&P 500
The stock index has completed a wave of decline to 4047.0. Today a link of correction to 4093.0 is not excluded, followed by a decline to 4008.0 and a wave of growth to 4093.0.
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.
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