Forex Technical Analysis & Forecast 07.12.2022

By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair completed an impulse of decline to 1.0460. Today a consolidation range is forming around this level. An escape downwards and further decline to 1.0388 is expected. After this level is reached, growth to 1.0460 may begin.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair continues developing a wave of decline to 1.2095. After this level is reached, growth to 1.2205 should begin, followed by a decline to 1.2066.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair continues growing to 137.85. After this level is reached, we expect a decline to 135.75, from where the trend might continue to 134.10.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair continues developing the wave of growth to 0.9457. Then a decline to 0.9388 might start, from where the wave might continue to 0.9320.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair completed a structure of decline to 0.6699. Today the market is forming a consolidation range around this level. With an escape upwards, a pathway for a correction to 0.6755 will open. With an escape downwards, a pathway to 0.6654 will open.

BRENT

Crude oil performed an impulse of decline to 79.00. At the moment, the market is forming a consolidation range above this level. Next, the quotes might escape the range upwards to 83.20, fall to 78.20, and grow again to 84.00, from where the trend may continue to 89.50.

XAUUSD, “Gold vs US Dollar”

Gold is forming a consolidation range around 1773.00. With an escape upwards, a pathway to 1782.00 will open, from where the quotes should decline to 1755.00. With an escape downwards, a pathway directly to 1755.00 should open.

S&P 500

The stock index is forming a consolidation range around 3972.2. An escape downwards and trend continuation to 3862.7 are expected. After this level is reached, a link of correction to 3972.2 is not excluded. Then a decline to 3840.8 is expected.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.