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XAU/USD

Silver

Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

The currency pair saw a rebound from 1.0693 downwards and broke through 1.0572. At the moment, a consolidation range is forming under this level. The quotes should then escape the range downwards and continue the wave to 1.0450. The target is local.

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

The currency pair saw a rebound from 1.2060 downwards and broke through 1.1920. At the moment, a consolidation range is forming under this level. The quotes should then escape the range downwards and continue the wave to 1.1776, from where a structure to 1.1699 may start to form.

USD/JPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of growth to 137.89. Today the market has performed an impulse of decline to 136.48. At the moment, a consolidation range is forming above this level. With an escape downwards, a pathway to 135.70 will open, from where the wave might continue to 135.25.

USD/CHF, “US Dollar vs Swiss Franc”

The currency pair continues developing a consolidation range around 0.9360. With an escape upwards, a pathway to 0.9660 should open, from where the wave might continue to 0.9870.

AUD/USD, “Australian Dollar vs US Dollar”

The currency pair has completed a structure of a wave of decline to 0.6570. Today the market continues forming a consolidation range above this level. A link of growth to 0.6644 is not excluded, followed by a decline to 0.6513. The goal is local.

Brent

Crude oil has completed a wave of correction to 81.87. Today the market is forming a consolidation range above this level. With an escape upwards, a pathway up to 85.25 should open. And if this level breaks as well, the structure might develop to 87.87, from where the wave might proceed to 89.77. The target is local.

XAU/USD, “Gold vs US Dollar”

Gold continues developing a structure of decline to 1802.50. After it reached this level, a link of growth to 1830.85 might form. Then a wave of decline to 1774.44 should begin. The target is local.

S&P 500

The stock index has completed an impulse of decline to 4000.0. At the moment, the market is forming a consolidation range around this level. The next structure of decline to 3917.5 should start developing, and the wave might even continue to 3788.0.

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.