EUR/USD, “Euro vs US Dollar”
EUR/USD is consolidating around 1.1755; after expanding the range up to 1.1800, it has returned to 1.1755. Possibly, the pair may rebound from this level to the upside again and then expand the range up to 1.1822 to complete this ascending wave. Later, the market may resume trading downwards with the first target at 1.1700.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is consolidating around 1.2965; after expanding the range up to 1.3000, it has returned to 1.2965. Today, the pair may form one more ascending structure towards 1.3016 to complete this wave. After that, the instrument may start a new decline with the first target at 1.2900.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is moving around 72.55. Possibly, today the pair may grow towards 72.80 and finish this ascending wave. Later, the market may form a new descending structure with the first target at 71.60.
USD/JPY, “US Dollar vs Japanese Yen”
After finishing the descending structure at 104.80 and then returning to 105.00, USDJPY has formed another consolidation range around the latter level; right now, it is moving not far from its upside border. Possibly, the pair may expand the range down to 104.66 and then start a new growth to reach 105.30. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 105.66 or even 106.20.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is consolidating around 0.9147. Today, the pair may start another decline to reach 0.9100 and then resume trading upwards to break 0.9177. After that, the instrument may continue growing with the target at 0.9220.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is consolidating around 0.7155. Possibly, the pair may expand the range up to 0.7222 and then start a new decline to break 0.7070. After that, the instrument may continue trading downwards with the target at 0.7000.
BRENT
Brent is forming another ascending impulse towards 44.30. Possibly, today the pair may break this level to the upside and then continue trading upwards with the target at 45.20. Later, the market may correct to reach 44.40 and then resume trading upwards with the short-term target at 45.80.
XAU/USD, “Gold vs US Dollar”
After completing another ascending wave at 1980.40, Gold is moving downwards to reach 1941.30 and may later reach 1960.50, thus forming a new consolidation range around 1941.30. if the price breaks this range to the downside, the instrument may form a new descending structure with the target at 1900.90 and then start another growth to return to 1941.30.
BTC/USD, “Bitcoin vs US Dollar”
BTCUSD is consolidating around 11000.00. Possibly, the asset may fall to break 10700.00 and then continue trading downwards with the short-term target at 10000.00. Later, the market may form one more ascending structure to return to 10700.00.
S&P 500
After forming one more ascending structure at 3264.8, the S&P 500 Index is falling to break 3222.2. After that, the instrument may continue trading downwards with the short-term target at 3135.2.
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.