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Forex Technical Analysis Forecast 17.05.2022

EURUSD, Euro vs US DollarAfter forming a new consolidation range around 1.0412, EURUSD has broken it to the upside. Today, the pair may correct with the target at 1.0474. Later, the market may then start a new decline towards 1.0300 or even extend this structure down to 1.0200.GBPUSD, Great Britain Pound vs US DollarHaving formed a new consolidation range around 1.2255 and broken it to the upside, GBPUSD is expected to correct up to 1.2366. After that, the instrument may start a new decline towards 1.2100 or even extend this structure down to 1.1870.USDJPY, US Dollar vs Japanese YenUSDJPY is consolidating around 129.04. Possibly, today the pair may grow to reach 130.53 and then form a new descending structure with the target at 126.91.USDCHF, US Dollar vs Swiss FrancAfter finishing the ascending wave at 1.0052, USDCHF is expected to correct towards 0.9960 and may later resume trading upwards with the target at 1.0175.AUDUSD, Australian Dollar vs US DollarHaving formed a new consolidation range around 0.6940 and broken it to the upside, AUDUSD is expected to correct up to 0.7044. After that, the instrument may resume falling with the target at 0.6740.BRENTAfter rebounding from 109.05, Brent is forming another ascending wave towards 116.05. Later, the market may start one more correction to reach 110.00 and then resume trading upwards with the target at 125.00.XAUUSD, Gold vs US DollarGold has finished the ascending impulse at 1829.38. Possibly, the metal may correct to…

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