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XAU/USD

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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, SP500

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

The currency pair has broken the level of 1.0970 upwards, extending the consolidation area to 1.1000. Today, the market is pushed to the lower border of this range. We are waiting for the level of 1.0922 to be reached, followed by growth to 1. 0970 and its test from below. Then the pair may return to 1.0922. After breaking it downwards, it may further decline to 1.0875. The goal is local.

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

The currency pair reached the estimated goal of the decline at 1.2485. Today, the market has broken this level downwards. It may further decline to 1.2385. After this goal is reached, the pair may correct to 1.2515, testing this level from below. Then it may decline to 1.2310.

USD/RUB, “US Dollar vs Russian Ruble”

The currency pair has corrected to 74.10. At the market opening, we are expecting a decline to 72.00, followed by growth to 73.50 and a decline to 71.30. The goal is local.

USD/JPY, “US Dollar vs Japanese Yen”

The currency pair goes on developing a correction. The market has returned to 106.60. At the moment, the market is trading in a consolidation range, which may extend to 106.52. Then the pair may grow to 107.07. Breaking this level upwards, it may further grow to 107.57.

USD/CHF, “US Dollar vs Swiss Franc”

The currency pair has broken the consolidation area downwards, extending it to 0.9590. Today, the market is trading in a momentum of growth to 0.9656. Then it may correct to 0.9622. At these levels, a new consolidation area may develop. If the pair growth and breaks away 0. 9660, it may then grow to 0.9733. The goal is the first one of the uptrend.

AUD/USD, “Australian Dollar vs US Dollar”

The currency pair keeps developing a declining wave. The market has reached the estimated goal of the first wave at 0.6396. At the moment, the market is trading in the consolidation area at the lows. The pair may break 0.6400 upwards and correct to 0.6484. And if it declines and breaks the level of 0.6373 downwards, it may then decline to 0.6333.

BRENT

Oil keeps developing a consolidation area around 27.00. We are expecting it to extend to 29.00. Then the pair may decline to 27.00,testing it from above, and grow to 32.02. The goal is local.

XAU/USD, “Gold vs US Dollar”

Gold keeps developing a wave of growth to 1712.00. After this level is reached, the pair may correct to 1690.50 and grow to 1730.00. The goal is local.

Bitcoin

The market has demonstrated a wave of growth to 9180. The market today is trading in a wave of decline to 8618. Then a correction to 8919 is not excluded. A consolidation area is expected to develop at practically these levels. When the cryptocurrency escapes it downwards, it may further correct to 8470. Breaking this level downwards, too, the declining wave may develop to 7900. The goal is local.

SP 500

The index has performed a wave of decline to 2801.8. Today, the development of a consolidation range at these lows looks possible. However, it may grow to 2877.0 and then decline to 2691.4.

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 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.