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XAU/USD

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Forex Technical Analysis and Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD has reached the short-term downside target at 1.1130; right now, it is consolidating towards 1.1151. If later the price breaks this range to the upside, the instrument may start a new correction to reach 1.1170; if to the downside – continue trading inside the downtrend to reach 1.1112 and extend the third wave. The target at 1.1075.

GBP/USD, “Great Britain Pound vs US Dollar”

GBP/USD is consolidating below 1.2085. According to the main scenario, the price may fall to break 1.2022. After that, the instrument may continue trading inside the downtrend with the target at 1.1955.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has completed the correction at 0.9707; right now, it is forming another ascending impulse to break 0.9766. Later, the market may continue trading inside the uptrend with the short-term target at 0.9828.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY has broken 106.18 to the downside. Possibly, the pair may form a new descending structure to reach 105.63 and then start another growth to return to 106.18. Later, the market may resume trading downwards to reach 105.42 and then form one more ascending structure with the target at 107.07.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has finished another descending structure to 0.6740, thus forming five-wave Flag correctional pattern; right now, it is moving upwards. Possibly, the pair may break the pattern and resume moving upwards with the short-term target at 0.6878.

USD/RUB, “US Dollar vs Russian Ruble”

After returning to 65.55 and forming a new consolidation range around it, USDRUB has broken the range to the upside and may choose an alternative scenario to continue growing with the target at 66.22. Today, the pair may fall to test 65.55 from above and then form one more ascending structure to reach the above-mentioned target. After that, the instrument may start a new decline with the first target at 65.33.

XAU/USD, “Gold vs US Dollar”

After reaching 1509.30 and forming a new consolidation range around it, Gold has broken the range upwards and may choose an alternative scenario to continue growing with the target at 1534.74 or even 1550.50. Later, the market may form a new descending structure with the target at 1507.30.

BRENT

Brent has reached the predicted correctional target at 58.50. Possibly, the pair may continue moving downwards to reach 57.75. After that, the instrument may form one more ascending structure to break 60.70 and then continue trading inside the uptrend with the short-term target at 63.63.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

EUR/USD recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.