Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

The currency pair completed a wave of decline to 1.0482. Today the market has completed an impulse of growth to 1.0635. A consolidation range has formed around this level at some point. With an escape upwards, a pathway to 1.0768 will practically open. After this level is reached, the pair may correct to 1.0635 (a test from above) and then grow to 1.0787.

USD/JPY, “US Dollar vs Japanese Yen”

The currency pair completed a wave of growth to 134.74. Today the market has finished an impulse of decline to 132.26. At the moment, a consolidation range has appeared around this level. With an escape downwards, a pathway for a decline to 130.70 will open. After this level is reached, a link of correction to 132.26 (a test from below) is not excluded, followed by a decline to 129.70.

USD/CHF, “US Dollar vs Swiss Franc”

The currency pair completed a structure of a wave of growth to 0.9407. Today the market has completed an impulse of decline to 0.9282. At the moment, the market has formed a consolidation range around this level. With an escape downwards, a pathway for a wave of decline to 0.9172 will practically open. After this level is reached, a link of correction to 0.9282 (a test from below) is not excluded, followed by a decline to 0.9161.

AUD/USD, “Australian Dollar vs US Dollar”

The currency pair completed a wave of decline to 0.6720. Today the market has completed an impulse of growth to 0.6871. At the moment, a consolidation range has formed around this level. With an escape upwards, a pathway for a wave of growth to 0.6990 will open. After this level is reached, a link of correction to 0.6871 is not excluded, followed by growth to 0.7022.

Brent

Crude oil has completed a wave of decline to 77.66 and an impulse of growth to 80.60. At the moment, it has formed a correction to 78.11. Today the market is forming an impulse of growth to 80.00. A breakaway of the level and further growth to 82.57 are not excluded.

XAU/USD, “Gold vs US Dollar”

Gold corrected to 1825.05 Today the market has performed a wave of growth to 1877.45. A link of correction to 1833.00 is not excluded, followed by growth to 1897.00.

S&P 500

The stock index continues developing a consolidation range around 3843.6. Today the market has completed a link of growth to 3904.4. A link of decline to 3843.6 is not excluded. Then the index may grow to 3924.8 and fall to 3677.5, from where the wave of decline might continue to 3640.0.

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.