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XAU/USD

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”

The currency pair has renewed the low of 1.0781 and returned to 1.0814. Practically, the market is forming a consolidation area around 1.0797. After a breakout of 1.0815 upwards, the pair may grow to 1.0828. If 1.0780 is broken out downwards, the pair may decline to 1.0755.

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

The currency pair keeps developing a declining wave to 1.2868. Upon reaching this level, it may correct to1.2947. Then the trend may continue to 1.2828.

USD/CHF, “US Dollar vs Swiss Franc”

The pair has performed a correction to 0.9822. Today, the market is trading under pressure for growth. The level of 0.9855 may be reached. With a breakout of this level upwards, the wave may continue to 0.9888.

USD/JPY, “US Dollar vs Japanese Yen”

The pair has formed a consolidation area around 110.10 and broken it out upwards. The market has made a measured movement to 111.50. Today, the market is trading in the consolidation area around 111.35. A decline to 111.11 is expected. With a breakout of this level downwards, there will appear a potential for a correction to 110.70. The goal is local.

AUD/USD, “Australian Dollar vs US Dollar”

The currency pair has formed a consolidation area around 0.6688 and broken it out downwards. Today, the market has performed a measured movement to 0.6633. Then, a correction to 0.6660 may happen, followed by a decline to 0.6622.

USD/RUB, “US Dollar vs Russian Ruble”

The currency pair keeps trading in the consolidation area around 63.63. The main scenario is a decline to 63.23. With a breakout of this level downwards, the pair may further decline to 61.85.

USD/CAD, “US Dollar vs Canadian Dollar”

The currency pair has reached the local goal of a declining wave – 1.3211. Today, it may correct to 1.3244 and then – decline to 1.3161.

XAU/USD, “Gold vs US Dollar”

Gold is trading in the consolidation area around 1606.60. With an escape upwards, the trend may continue to 1633.60. With an escape downwards, a correction to 1595.50 is possible.

BRENT

Oil is trading in the consolidation area around 58.98. With an escape upwards, it may reach 60.60, after which it may correct to 58.50.

BTC/USD, “Bitcoin vs US Dollar”

The market has performed a decline to 9588. This is just a half of the wave. Today, we are expecting a consolidation area to form around this level. After a breakout of the lower border, the trend may continue to 8900. The goal is local.

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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 breaks below 1.1800, two-week lows

EUR/USD’s selling pressure is gathering pace now, breaching below the key 1.1800 yardstick to hit new two-week troughs on Wednesday. The pair’s pullback comes on the back of marked gains in the US Dollar following US data releases and ahead of the publication of the FOMC Minutes.

GBP/USD reaches multi-day lows near 1.3500

GBP/USD reverses its initial upside momentum and is now adding to previous declines, approaching the 1.3500 region on Wednesday. Cable’s downtick comes on the back of decent gains in the Greenback and easing UK inflation figures, which seem to have reinforced the case for a BoE rate cut in March.

Gold battle to regain $5,000 continues

Gold is back on the front foot on Wednesday, shaking off part of the early week softness and challenging two-day highs near the $5,000 mark per troy ounce. The move comes ahead of the FOMC Minutes and is unfolding despite an intense rebound in the US Dollar.

Fed Minutes to shed light on January hold decision amid hawkish rate outlook

The Minutes of the Fed’s January 27-28 monetary policy meeting will be published today. Details of discussions on the decision to leave the policy rate unchanged will be scrutinized by investors.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.