TRENDING:

XAU/USD

EUR/USD

Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

Having completed another descending structure at 1.1329, EURUSD is expected to grow and test 1.1373 from below. Later, the market may start a new decline to break 1.1320 and then continue trading downwards with the target at 1.1280.

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

GBP/USD is forming a new descending structure to break 1.3520. After that, the instrument may continue trading downwards with the short-term target at 1.3434.

USD/RUB, “US Dollar vs Russian Ruble”

USD/RUB has reached 75.84; right now, it is consolidating there. If the price breaks the range to the upside, the market may continue the correction towards 77.15 and then form a new consolidation range around this level; if to the downside – resume trading downwards with the target at 75.05.

USD/JPY, “US Dollar vs Japanese Yen”

Having completed the descending structure at 115.09, USDJPY is expected to correct towards 115.71. After that, the instrument may form a new descending wave with the target at 114.96.

USD/CHF, “US Dollar vs Swiss Franc”

After finishing the descending wave at 0.9240, USDCHF is growing to reach 0.9277. Later, the market may resume falling with the target at 0.9250.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is still falling to reach 0.7085. After that, the instrument may start another growth with the target at 0.7168.

Brent

After breaking 93.80 and finishing the ascending wave at 96.50, Brent is expected to correct and test 93.80 from above. Later, the market may resume trading upwards with the target at 98.05.

XAU/USD, “Gold vs US Dollar”

Gold has completed the ascending wave at 1864.60; right now, it is consolidating around 1858.00. If the price breaks the range to the upside, the market may form one more ascending structure towards 1895.30; if to the downside – start a new correction with the target at 1833.00.

S&P 500

After completing the descending wave at 4430.4, the S&P index is forming a new consolidation range around there. If the price breaks the range to the upside, the market may correct towards 4520.0; if to the downside – resume trading downwards with the target at 4269.5.

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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.

GBP/USD surrenders some gains, back to 1.3420

GBP/USD holds on to moderate gains above 1.3400 the figure on Friday. Optimism surrounding the UK government’s leadership transition and expectations of further BoE tightening support the British Pound, while easing tensions in the Middle East and fading Fed rate-hike expectations weigh on the US Dollar.

EUR/USD turns positive, targets 1.1450

EUR/USD now picks up pace and advances toward the 1.1440 region on Friday, up modestly for the day. With no major economic data due, lingering uncertainty over the US-Iran conflict keeps investors cautious, limiting the pair's upside.

Gold remains offered, still below $4,100

Gold struggles to extend Thursday’s rebound and navigates below the $4,100 mark per troy ounce on Friday. Uncertainty surrounding the Middle East conflict limits the precious metal’s upside, which is also under pressure amid rising US Treasury yields across the curve.

Week ahead – US CPI and Warsh testimony to take centre stage, BoC eyed too

US inflation report and Warsh testimony to headline the week. Dollar to dominate amid slew of other US data and Mideast tensions. Amid fresh Iran escalation, China GDP to shed light on Q2 impact. Bank of Canada not expected to follow RBNZ with rate hike.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June Federal Open Market Committee meeting landed mid-round-trip, describing a world that had already stopped existing.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June FOMC meeting landed mid-round-trip, describing a world that had already stopped existing.