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Forex Technical Analysis Forecast 13.05.2022

EURUSD, Euro vs US DollarAfter finishing the descending wave at 1.0444 and then forming a new consolidation range around this level, EURUSD has broken it to the downside; right now, it is still falling with the target at 1.0290. Later, the market may correct to return to 1.0444 and then form a new descending structure towards 1.0245.GBPUSD, Great Britain Pound vs US DollarHaving broken 1.2259, GBPUSD continues falling towards 1.2111. After that, the instrument may correct to return to 1.2259 and then resume trading downwards with the target at 1.2100.USDJPY, US Dollar vs Japanese YenUSDJPY has completed the descending structure at 127.55 along with the correction towards 129.19. Later, the market may start another decline with the target at 126.51.USDCHF, US Dollar vs Swiss FrancAfter finishing the ascending wave at 1.0045, USDCHF is expected to correct down to 0.9960. Later, the market may form one more ascending structure with the target at 1.0050.AUDUSD, Australian Dollar vs US DollarAUDUSD continues falling towards 0.6737. After that, the instrument may correct to reach 0.6860 and then form a new descending structure with the target at 0.6700.BRENTAfter finishing the ascending wave at 108.80 and then forming a new consolidation range around this level, Brent has broken it to the upside; right now, it is still growing with the target at 111.77 and even may extend this structure up to 112.80. Later, the market may correct to return to 108.80 and then resume trading…

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