EUR/USD, “Euro vs US Dollar”
After breaking 1.1118, EU/RUSD has reached 1.1065. Possibly, today the pair may return to 1.1118 to test it from below and then form a new descending structure with the target at 1.1063.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has finished the first descending wave at 1.2866. Today, the pair may start another correction to reach 1.2917 and then continue trading downwards with the target at 1.2765.
USD/CHF, “US Dollar vs Swiss Franc”
After completing the ascending wave at 0.9888 and forming another consolidation range around it, USD/CHF has broken it upwards to reach 0.9933; right now, it is consolidating around this level. Possibly, the pair may expand the range towards 0.9938 and then start a new decline with the target at 0.9888.
USD/JPY, “US Dollar vs Japanese Yen”
After forming the consolidation range above 109.07, USD/JPY has broken it downwards. According to the main scenario, the price is expected to trade downwards to reach 108.87 and then form one more ascending structure towards 109.04. Later, the market may resume its decline with the target at 108.52.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is consolidating around 0.6900. Possibly, the pair may reach 0.6877 and then resume trading upwards to return to 0.6900.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is correcting towards 63.69. Later, the market may resume falling with the short-term target at 63.00.
USD/CAD, “US Dollar vs Canadian Dollar”
After finishing the descending impulse towards 1.3137, USD/CAD has completed the correction. Possibly, the pair may form a new descending impulse to reach 1.3104 and then start another growth with the target at 1.3160.
XAU/USD, “Gold vs US Dollar”
After completing the descending structure at 1479.30, Gold is consolidating near the lows. Today, the pair may break the range upwards to reach 1493.45. After that, the instrument may form a new descending structure to return to 1478.30.
BRENT
After finishing the ascending structure at 63.50, Brent is correcting towards 62.50. After that, the pair may grow to reach 62.85. If later the price breaks this range to the downside, the market may continue the correction to reach 61.50; if to the upside – resume trading inside the uptrend with the target at 64.90.
BTC/USD, “Bitcoin vs US Dollar”
BTC/USD is moving upwards to reach 9415.00. Later, the market may form a new descending structure towards 9130.00 and then start another growth with the target at 9600.00.
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.