EUR/USD, “Euro vs US Dollar”
After finishing another descending structure at 1.1888, EURUSD has started a new growth to reach 1.1937. After that, the instrument may correct towards 1.1910 and then resume trading upwards with the target at 1.2000.
GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD has completed another descending structure at 1.3810; right now, it is growing towards 1.3931 and may later start a new correction with the target at 1.3871. After that, the instrument may resume trading upwards to reach 1.4055.
USD/RUB, “US Dollar vs Russian Ruble”
After completing the descending wave at 72.30 along with the correction towards 72.80, USDRUB is expected to start a new decline to return to 72.30. Later, the market may form one more ascending structure towards 72.55 and then resume falling with the target at 72.00.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 109.12 without any particular direction. Today, the pair may expand the range up to 109.40 and then resume trading downwards with the target at 108.40.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF continues consolidating around 0.9255. Possibly, the pair may break the range to the downside and reach 0.9186. Later, the market may start a new correction towards 0.9260 and then resume trading downwards with the target at 0.9160.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7740. Today, the pair may grow and break 0.7780 and then continue moving upwards with the target at 0.7860.
Brent
After completing the correction at 67.00, Brent is expected to form one more ascending structure towards 68.60. After that, the instrument may start a new decline to reach 67.90 and then resume growing with the target at 70.00.
XAU/USD, “Gold vs US Dollar”
Gold is forming a wide consolidation range around 1721.30. Possibly, today the metal may expand the range up to 1742.15. Later, the market may correct with the target at 1710.00.
S&P 500
The S&P index is consolidating around 3960.0. Possibly, the asset may expand the range up to 4000.0 and then start a new correction towards 3860.0. After that, the instrument may resume moving upwards with the target at 4126.0.
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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.