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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 finishing the ascending structure at 1.1146 and almost completing the third ascending wave, EURUSD is trading downwards. Possibly, the pair may start a new correction towards 1.0980, at least. Later, the market may form one more ascending structure with the target at 1.1236.

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

After completing the ascending structure at 1.2470, GBPUSD is moving downwards. Today, the pair may correct towards 1.2185 and then form one more ascending structure with the target at 1.2650.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has finished the descending wave at 0.9500; right now, it is growing to reach 0.9656, at least. Later, the market may resume trading downwards with the target at 0.9470.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY is still falling towards 106.80. Possibly, today the pair may reach this level and then start another correction towards 109.04. After that, the instrument may resume trading inside the downtrend with the target at 106.77.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has reached its upside target at 0.6138; right now, it is forming a narrow consolidation range at the top of this wave. Possibly, the pair may grow towards 0.6220 and then resume trading downwards to reach 0.5822.

USD/RUB, “US Dollar vs Russian Ruble”

USD/RUB is still consolidating around 78.00; right now, it is growing towards 79.75. Possibly, the pair may reach this level and then resume trading downwards to break 77.10. Later, the market may continue falling with the target at 75.20.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD continues falling. Today, the pair may correct to reach 1.4140. Later, the market may form a new descending structure with the target at 1.3755.

XAU/USD, “Gold vs US Dollar”

Gold is falling towards 1597.50. Possibly, the pair may reach this level and then start another growth towards 1612.50. After that, the instrument may form a new descending structure with the first target at 1590.50.

BRENT

Brent is falling. Possibly, today the pair may reach 23.55 and then form one more ascending structure towards 25.25. Later, the market may fall to reach 23.23 and then resume trading upwards with the target at 25.95.

BTC/USD, “Bitcoin vs US Dollar”

BTC/USD has broken 6150.00 to the downside. The main scenario implies that the instrument may correct towards 5300.00 and then start a new growth with the target at 7500.00.

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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 trims losses, back to 1.1830

EUR/USD manages to regain some composure, leaving behind part of the earlier losses and reclaim the 1.1830 region on Tuesday. In the meantime, the US Dollar’s upside impulse loses some momentum while investors remain cautious ahead of upcoming US data releases, including the FOMC Minutes.

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 loses further momentum, approaches $4,800

Gold recedes to fresh two-week troughs around the $4,800 region per troy ounce on Tuesday. The precious metal builds on Monday’s downtick following a marked rebound in the US Dollar and mixed US Treasury yields across the board.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

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.