TRENDING:

XAU/USD

Silver

Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

After completing the descending structure at 1.2146 along with the ascending impulse towards 1.2195, EURUSD is consolidating below the latter level. If the price breaks this range to the upside, the market may start another growth to reach 1.2244. On the other hand, if the asset falls and beaks 1.2146, the instrument may continue correcting with the target at 1.2100.

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

After reaching 1.4071 and rebounding from this level, GBPUSD is growing to break 1.4200 and may later continue trading upwards to reach 1.4280. However, if the asset falls and breaks 1.4080, the market may form a new descending structure with the target at 1.4030.

USD/RUB, “US Dollar vs Russian Ruble”

After reaching the predicted downside target at 71.71, USDRUB is expected to consolidate above this level. If later the price breaks this range to the upside, the market may start a new correction towards 75.00; if to the downside – resume falling to reach 71.40.

USD/JPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 109.78 along with the descending structure towards 109.45, USDJPY is expected to consolidate around the latter level. Today, the pair may expand the range down to 109.11 and then form one more ascending structure to return to 109.78.

USD/CHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.8970. Possibly, today the pair may expand the range down to 0.8888 and then resume trading upwards with the short-term target at 0.9052.

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD has finished the descending structure at 0.7715 along with the ascending impulse towards 0.7760; right now, it is consolidating below the latter level. If the price breaks this range to the upside, the market may start another growth to reach 0.7785. On the other hand, if the asset falls and beaks 0.7715, the instrument may continue trading downwards with the target at 0.7648.

Brent

Brent is still consolidating above 71.50. Possibly, today the asset may correct towards 70.00 and then resume trading upwards with the target at 75.55.

XAU/USD, “Gold vs US Dollar”

Gold is still consolidating around 1890.00. If later the price breaks this range to the upside, the market may start a new growth towards 1927.81; if to the downside – continue the correction to reach 1852.64.

S&P 500

The S&P index is still consolidating around 4222.0. Possibly, today the asset may break this range to the upside and resume growing towards 4275.1. After that, the instrument may correct downwards to reach 4170.0 and then form one more ascending structure with the target at 4303.3.

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.