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

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD is moving downwards. Possibly, today the pair may reach 1.1012 and then grow to break 1.1035. Later, the market may continue trading upwards with the target at 1.1060.

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

After forming another consolidation range around 1.3094, GBP/USD has broken it to the downside. Today, the pair may reach 1.3017 and then start a new correction to return to 1.3094 and test it from below.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is consolidating around 0.9696. Possibly, today the pair may expand the range down to 0.9685 and then form one more ascending structure towards 0.9723. After that, the instrument may resume trading downwards with the target at 0.9660.

USD/JPY, “US Dollar vs Japanese Yen”

After reaching the first downside target at 108.80, USDJPY is correcting towards 109.57 to test it from below. Later, the market may resume trading inside the downtrend with the target at 107.70.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has reached the short-term predicted downside target at 0.6811; the entire movement is considered as the third descending wave. Possibly, the pair may consolidate near the current lows. After that, the instrument may break the range to the downside and continue moving downwards with the target at 0.6755.

USD/RUB, “US Dollar vs Russian Ruble”

USD/RUB is still consolidating around 61.90 without any particular direction. According to the main scenario, the price is expected to continue the correction with the target at 63.00. Possibly, today the pair may grow to reach 62.15 and then form a new descending structure towards 61.91. Later, the market may resume trading upwards with the above-mentioned target.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD has broken 1.3147 to the upside. Possibly, the pair may continue growing towards 1.3170 and then start another decline to return to 1.3147. After that, the instrument may form one more ascending structure with the target at 1.3177.

XAU/USD, “Gold vs US Dollar”

After the gap this morning, which made Gold complete its ascending structure at 1587.83, the pair has finished the descending impulse towards 1577.83; right now, it is consolidating above the latter level. Possibly, the pair may fall to reach 1567.56 and then resume trading upwards to test 1577.18 from below.

BRENT

Brent is moving downwards. Today, the pair may reach 58.62 and then start another growth to break 60.60. Later, the market may form one more ascending structure with the target at 62.30.

BTC/USD, “Bitcoin vs US Dollar”

BTC/USD is moving upwards; it has already broken 8444.00 to the upside. The main scenario implies that the pair may start a new correction towards 8720.00. After that, the instrument may resume trading downwards to reach 8050.00.

Author

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 onsolidates around mid-1.1800s as traders keenly await FOMC Minutes

The EUR/USD pair struggles to capitalize on the previous day's goodish rebound from the 1.1800 neighborhood, or a one-and-a-half-week low, and consolidates in a narrow band during the Asian session on Wednesday. Spot prices currently trade just below mid-1.1800s, nearly unchanged for the day.

GBP/USD seems vulnerable near mid-1.3500s; UK CPI/FOMC Minutes awaited

The GBP/USD pair struggles to capitalize on the previous day's late rebound from an over one-week low – levels below the 1.3500 psychological mark – and trades with a negative bias for the third consecutive day on Wednesday. The downside, however, remains cushioned as investors seem reluctant to place aggressive directional bets ahead of the release of the latest UK consumer inflation figures and FOMC Minutes.

Gold regains positive traction after Tuesday's over 2% slump as traders await FOMC Minutes

Gold gains some positive traction during the Asian session on Wednesday and recovers a part of the previous day's heavy losses more than 2%, to the $4,843-4,842 region or a nearly two-week low. The intraday move higher could be attributed to repositioning trade ahead of the release of the FOMC Minutes.

Top Crypto Gainers: Jito drops, Morpho holds steady, Convex Finance climbs

Decentralized Finance tokens, including Jito, Morpho, and Convex Finance, rank among the top-performing crypto assets over the last 24 hours. Jito dips on Wednesday after rallying 22% the previous day on the launch of a new mainnet node.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.