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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”

After completing the ascending wave without any corrections at 1.1006, EUR/USD has formed the first descending impulse to reach 1.0964 along with the correction towards 1.1003. Today, the pair may form the second descending impulse to return to 1.0964. After that, the instrument may break this level and then continue trading downwards with the first target at 1.0920.

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

After forming a wide consolidation range around 1.2901, GBP/USD is still moving downwards. Possibly, the pair may break 1.2850 and then continue trading inside the downtrend with the target at 1.2786.

USD/CHF, “US Dollar vs Swiss Franc”

After finishing the descending wave at 0.9672, USD/CHF is consolidating near the lows. Later, the market may break this range to the upside and start another growth with the target at 0.9717.

USD/JPY, “US Dollar vs Japanese Yen”

After breaking 109.68, USDJPY is still falling. The main scenario implies that the price may fall to reach 108.74 and then form one more ascending structure with the first target at 110.18.

AUD/USD, “Australian Dollar vs US Dollar”

After rebounding from 0.6593, AUD/USD continues moving downwards with the short-term target at 0.6519. Later, the market may start another correction to reach 0.6558 and then form a new descending structure towards 0.6500.

USD/RUB, “US Dollar vs Russian Ruble”

After forming a new consolidation range around 65.71, USD/RUB has broken it to the upside. Possibly, the pair may grow to reach 66.96 and then start a new decline towards 65.80. After that, the instrument may form one more ascending structure with the target at 67.27.

USD/CAD, “US Dollar vs Canadian Dollar”

After forming another consolidation range around 1.3344, USD/CAD has broken it to the upside. Today, the pair may continue the ascending wave towards 1.3481 without any corrections. Later, the market may resume trading downwards to return to 1.3344.

XAU/USD, “Gold vs US Dollar”

Gold is still consolidating around 1641.65. Possibly, today the pair may form a new descending structure to break 1623.10 and then continue trading inside the downtrend with the target at 1594.50.

BRENT

Brent is still moving downwards. Today, the pair may reach 50.50 and then start another growth towards 52.44, thus forming a new consolidation range between these two levels. After breaking the range to the upside, the instrument may resume trading upwards with the first target at 54.22.

BTC/USD, “Bitcoin vs US Dollar”

After forming the consolidation range around 8700.00, BTC/USD is trying to break it to the upside. Possibly, the pair may start another growth towards 9225.00 and then form a new descending structure with the target at 8456.00.

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 meets initial support around 1.1800

EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

Ethereum Price Forecast: BitMine extends ETH buying streak, says long-term outlook remains positive

Ethereum (ETH) treasury firm BitMine Immersion continued its weekly purchase of the top altcoin last week after acquiring 45,759 ETH.

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.