Forex Technical Analysis & Forecast 29.06.2022

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.0555 and breaking this level, EURUSD continue falling towards 1.0494. Later, the market may grow to test 1.0555 from below and then resume falling with the target at 1.0440.

GBPUSD, “Great Britain Pound vs US Dollar”

Having finished the descending wave at 1.2233 and breaking this level, GBPUSD continues falling towards 1.2152 and may even extend this structure down to 1.2132. After that, the instrument may start another correction with the target at 1.2232.

USDJPY, “US Dollar vs Japanese Yen”

After forming a new consolidation range around 135.40 and breaking it to the upside, USDJPY continues growing towards 136.36. Later, the market may start another correction to return to 135.40 and then form one more ascending structure with the target at 136.56.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9572 and may later expand it down to 0.9512. After that, the instrument may form one more ascending structure to break 0.9572 and then continue trading upwards with the target at 0.9666.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the ascending wave at 0.6962 along with the correction down to 0.6915 and then forming a new consolidation range around the latter level, AUDUSD has broken this range to the downside. Possibly, today the pair may continue trading downwards with the target at 0.6865.

BRENT

Having finished the ascending wave at 117.17, Brent is correcting down to 114.22. After that, the instrument may form one more ascending wave with the target at 118.26 or even extend this structure up to 119.70.

XAUUSD, “Gold vs US Dollar”

Gold is still falling towards 1815.00 and may later correct up to 1831.00, thus forming a new consolidation range. After that, the instrument may break the range to the downside and resume trading downwards with the target at 1791.30.

S&P 500

After breaking 3822.0 upwards and reaching the short-term upside target at 3948.4, the S&P index has completed the correction to test 3822.0 from above. Today, the metal may form one more ascending structure towards 4014.0 and then resume falling to break 3822.0. Later, the market may continue trading downwards with the short-term target 3617.0.