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Forex Technical Analysis & Forecast 10.05.2021

EURUSD, “Euro vs US Dollar”

After extending the ascending wave towards 1.2147, EURUSD is consolidating around this level. Possibly, the pair may break the range to the downside and resume falling to reach 1.2070. Later, the market may form one more ascending structure with the target at 1.2119.

Forex Technical Analysis & Forecast 10.05.2021 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the ascending structure at 1.4025. Possibly, today the pair may fall to reach 1.3850 and resume growing with the target at 1.3940.

Forex Technical Analysis & Forecast 10.05.2021 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is falling to reach 73.44 and may later correct towards 74.40. After that, the instrument may resume trading downwards with the short-term target at 73.00.

Forex Technical Analysis & Forecast 10.05.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending wave at 108.33, USDJPY is trading upwards to reach 109.17. Later, the market may start a new decline with the target at 108.70.

Forex Technical Analysis & Forecast 10.05.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After completing the descending structure at 0.9000, USDCHF is forming a new consolidation range above this level. Today, the pair may break the range to the upside and resume growing to reach 0.9118. After that, the instrument may start another correction with the target at 0.9060.

Forex Technical Analysis & Forecast 10.05.2021 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the ascending wave at 0.7850, AUDUSD is forming a new consolidation range around there. Possibly, the pair may break the range to the downside and start a new decline towards 0.7760. After that, the instrument may resume growing with the target at 0.7810.

Forex Technical Analysis & Forecast 10.05.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing the correction at 67.25, Brent is forming one more ascending structure towards 69.40. Later, the market may correct to reach 68.30 and then resume trading upwards with the target at 70.00.

Forex Technical Analysis & Forecast 10.05.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After finishing the ascending structure at 1817.00 and forming a new consolidation range around it, Gold has broken the range to the upside; right now, it is still growing to reach 1845.45. Later, the market may start a new correction to return to 1817.00 and then resume trading upwards with the target at 1864.00.

Forex Technical Analysis & Forecast 10.05.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index has completed the ascending wave at 4220.0; right now, it is consolidating around this level. Possibly, today the asset may resume growing towards 4290.0 and then start another correction to return to 4220.0. After that, the instrument may form one more ascending structure with the target at 4309.0.

Forex Technical Analysis & Forecast 10.05.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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