EUR/USD, “Euro vs US Dollar”
The currency pair has completed a wave of decline to 1.0709. Today a consolidation range may form above this level. A link of growth to 1.0757 and a decline to 1.0699 should follow. After this level is reached, a link of correction to 1.0791 is not excluded, followed by a decline to 1.0642. The goal is local.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair has completed a wave of decline to 1.2005. At the moment, a consolidation range has formed above this level. Today the market may extend the range to 1.2060. Then a decline to 1.1988 is not excluded. And then a link of correction to 1.2100 may be expected. After the correction is over, a link of decline to 1.1945 should happen.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair has completed a wave of growth to 132.89. Today a link of decline to 131.91 should follow. Then a link of growth to 134.60 might be expected. The goal is local.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair has completed a wave of growth to 0.9289. Today the market is forming a link of decline to 0.9257. Then growth to 0.9300 should follow. Next, a link of correction to 0.9240 is not excluded. After the correction is over, growth should continue to 0.9370, from where the wave might extend to 0.9400.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair has completed a structure of decline to 0.6855. Today a correction to 0.6966 should follow. Then a decline to 0.6860 might happen. And with a breakaway of this level, a pathway down to 0.6777 should follow.
Brent
Brent has completed a wave of decline to 79.00. Today a wave of growth to 84.00 may follow. Then we should expect a correction to 81.40 and growth to 88.88. The goal is first.
XAU/USD, “Gold vs US Dollar”
Gold has completed a structure of a declining wave to 1859.77. Today a link of growth to 1882.82 should follow. Then we expect a decline to 1855.55 and a correction to 1888.88. After the correction will be over, the wave of decline should continue to 1820.00.
S&P 500
The stock index has completed an impulse of decline to 4095.0. Today a link of correction to 4131.0 is expected. After the correction will be over, a decline to 4080.0 might follow. And with a breakaway of this level, a pathway down to 3980.0 should open. The goal is local.
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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.