Technical Analysis & Forecast 10.04.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair has completed a growth wave at 1.0880. Today the market is forming a decline structure aiming 1.0822. Once this level is reached, a correction link targeting 1.0852 (testing from below) is not excluded. Next, a decline by the trend towards 1.0777 is expected, from which level the trend might extend to 1.0747. This is the first target.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBPUSD pair has completed a growth wave at 1.2707. Today the market is forming a decline structure towards 1.2633. Once this level is reached, a correction link targeting 1.2670 is not excluded, followed by a decline towards 1.2575, from which level the trend could extend to 1.2533. This is the first target

USDJPY, “US Dollar vs Japanese Yen”

The USDJPY pair continues developing a consolidation range around 151.70. The range might later expand towards 151.50. Next, a growth wave to 151.85 could follow, from where the trend might continue to 152.20. This is the first target.

USDCHF, “US Dollar vs Swiss Franc”

The USDCHF pair has corrected to 0.9012. A wave targeting 0.9050 is expected to form today, potentially extending the trend to 0.9090. This is a local target.

AUDUSD, “Australian Dollar vs US Dollar”

The AUDUSD pair has formed a correction wave targeting 0.6643. Today the market is forming a consolidation range under this level. The range could later expand towards 0.6650, after which a decline to 0.6600 could follow. And if this level also breaks, the potential for a wave towards 0.6545 could open. This is the first target.

BRENT

Brent continues forming a consolidation range above 88.88. Today it might rise to 90.66. And if this level also breaks upwards, the potential for a wave extension to 93.00 could open, from which level the trend might continue to 97.00. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has formed a growth wave towards 2365.30 and a correction link to 2340.00. A growth structure aiming 2366.76 is expected today, from which level the trend might continue towards 2380.70. This is a local target. Once this level is reached, a correction to 2288.00 might begin.

S&P 500

The stock index is forming a consolidation range around 5205.0 without any obvious trend. Next, a decline to 5188.0 could follow. With a downward escape from the range, the wave might extend to 5170.0. And if this level also breaks, the potential for a wave targeting 5125.0 might open. This is the first target.