TRENDING:

XAU/USD

Silver

Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

After breaking 1.1800 to the upside and then reaching 1.1900, EURUSD is still trading upwards. Possibly, the pair may correct a little bit to reach 1.1861 and then form one more ascending structure towards 1.1950 or even 1.2000. However, if the price breaks the ascending channel to the downside, the market may start a more significant correction with the target at 1.1750.

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

After breaking 1.3000 and reaching 1.3111, GBPUSD is expected to continue growing towards 1.3200 or even 1.3288. After that, the instrument may start a new correction with the first target at 1.2976.

USD/RUB, “US Dollar vs Russian Ruble”

After breaking 72.66 to the upside, USDRUB is expected to continue growing towards 73.90 and may later fall to reach 72.17. After that, the instrument may start another growth towards 74.44 and then form a new descending structure with the target at 71.21.

USD/JPY, “US Dollar vs Japanese Yen”

After breaking 104.66 to the downside, USDJPY is expected to continue falling with the short-term target at 104.10. Later, the market may start a new correction to reach 105.12 and then resume trading downwards with the target at 103.30.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has broken 0.9100 to the downside; right now, it is still falling. Today, the pair may reach 0.9050 and then start a new correction with the target at 0.9170.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is moving upwards. Possibly, the pair may reach 0.7252 and then start a new correction with the target at 0.7070.

BRENT

After finishing another descending structure at 41.70 and then returning to 43.70, Brent may grow to break 44.30 to the upside and then continue trading upwards to reach 45.80. However, if the price breaks 42.70 to the downside, the market may form a new descending structure towards 41.00 and then start another growth with the target at 46.60.

XAU/USD, “Gold vs US Dollar”

After completing the descending wave at 1941.41 along with the ascending structure towards 1960.56, Gold is consolidating around the latter level. If later the price breaks this range to the downside, the instrument may form a new descending structure to break 1941.00 and then continue falling with the target at 1901.50; if to the upside – resume trading upwards to reach 1980.40 or even 2000.00.

BTC/USD, “Bitcoin vs US Dollar”

BTCUSD is still 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 and then form one more ascending structure to return to 10700.00. However, if the price breaks the range to the upside, the instrument may resume growing to reach 11400.00 or even 11600.00.

S&P 500

After completing the descending wave at 320.4.5 and finishing the ascending structure at 3240.9, the S&P has tried to break 3264.8 and fix above this level; right now, the price is back inside the consolidation range. Possibly, the Index may fall towards the downside border of this range at 3200.0 to break it and then continue trading downwards to reach 3111.1. However, if the price grows to break 3279.0, the instrument may continue trading upwards with the target at 3335.0 or even 3400.0.

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 hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.