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.
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Editors’ Picks
EUR/USD comes under pressure near 1.0630
Further gains in the Greenback encourage sellers to maintain their control over the risk complex, forcing EUR/USD to retreat further and revisit the 1.0630 region as the US session draws to a close.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.