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Forex technical analysis and forecast: EUR/USD, GBP/USD, USD/RUB, USD/JPY, USD/CHF, AUD/USD, Brent, Gold, BTC/USD, SP 500

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

After breaking 1.0844 and then reaching 1.0803, EURUSD is consolidating above this level. Possibly, the pair may expand this range down to 1.0795 and then form one more ascending structure to break 1.0825. Later, the market may start a new correction to return to 1.0844 and then resume trading inside the downtrend with the target at 1.0750.

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

GBP/USD is still consolidating around 1.2323. Possibly, the pair may expand the range up to 1.2420 and then resume moving downwards with the first target at 1.2190.

USD/RUB, “US Dollar vs Russian Ruble”

USDRUB is forming a new descending impulse towards 75.25 and may later grow to reach 76.40, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may resume trading inside the downtrend with the target at 69.52; if to the upside – choose an alternative scenario to extend the wave up to 78.05 and then start a decline to reach the above-mentioned target.

USD/JPY, “US Dollar vs Japanese Yen”

After finishing the ascending structure towards 107.90 along with the correction at 107.66, USDJPY is expected to start another growth to reach 108.07. After that, the instrument may resume falling with the target at 107.50.

USD/CHF, “US Dollar vs Swiss Franc”

After breaking 0.9706 to the upside, USDCHF is expected to continue growing with the short-term target at 0.9745. Later, the market may correct towards 0.9660 and then form one more ascending structure to reach 0.9800.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is still consolidating around 0.6280. Possibly, the pair may form one more ascending structure to reach 0.6363 and then resume trading inside the downtrend with the short-term target at 0.6214.

BRENT

Brent has completed the ascending impulse towards 25.40; right now, it is consolidating below this level. The mains scenario implies that the price may correct to reach 20.70 and then grow to break 25.40. Later, the market may resume growing towards 31.00 and then start a new correction to return to 25.40.

XAU/USD, “Gold vs US Dollar”

Gold has completed the ascending wave at 1718.10, which may be considered as the third ascending structure. Today, the pair may correct towards 1693.15 and then start another growth to reach 1727.47.

BTC/USD, “Bitcoin vs US Dollar”

After finishing the ascending structure towards 7140.00, BTCUSD is expected to consolidate around this level. According to the main scenario, the price may break the range to the upside and then continue trading upwards with the short-term target at 7520.00. Later, the market may start a new correction to reach 6800.00 and then form one more ascending structure towards 7700.00.

SP 500

S&P 500 has finished the ascending impulse at 2816.0. Possibly, today the price may form a new consolidation range around this level. Later, the market may break it to the upside and continue growing towards 2927.6. After that, the instrument may start another correction to reach 2675.0 and then resume trading inside the uptrend with the target at 3160.2.

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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 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.

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.