EUR/USD, “Euro vs US Dollar”
The currency pair has performed an impulse of decline to 1.0723. Today a link of growth might develop to 1.0810, followed by a decline to 1.0686. The target is first. After that, growth to 1.0810 is possible.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair has completed a structure of decline to 1.2190. Today the market is correcting to 1.2250. Practically, a consolidation range might form at these levels. If the price escapes the range downwards, a new wave of decline to 1.2167 should start. The target is first. After that, a new structure of growth might develop to 1.2255.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair completed a structure of decline to 129.63. Today the market has completed a link of growth to 130.58 and is forming a consolidation range around this level. If the price escapes the range upwards, a pathway to 131.60 should open. The target is first. Then a correction to 130.60 and growth to 132.60 should follow.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair is forming a consolidation range around 0.9180. Today the price might escape it upwards, reaching 0.9233. The target is first. After the quotes reach this level, a correction to 0.9180 should follow. Then growth to 0.9244 looks possible.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair has completed a wave of decline to 0.6624. Today the market is forming a correction to 0.6677. After the price reaches this level, a wave of decline to 0.6595 should start. Then a correction to 0.6677 and a decline to 0.6588 looks possible.
Brent
Brent has corrected to 72.20. Today a structure of growth to 75.90 should develop. And if the quotes break this level upwards, the growth might continue to 79.60, from where a wave of growth might develop to 81.66.
XAU/USD, “Gold vs US Dollar”
Gold formed a consolidation range around 1991.20. Today the market is trading near the lower border of the range. If the border breaks downwards, a pathway to 1952.25 should open. And if the price escapes the range upwards, the wave might continue to 2015.00.
S&P 500
Today the stock index continues forming a consolidation range around 3964.4. The range might extend to 3885.5. Then the quotes might grow to 4042.0.
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Editors’ Picks
GBP/USD stays below 1.2450 after UK employment data
GBP/USD trades marginally lower on the day below 1.2450 in the early European session on Tuesday. The data from the UK showed that the ILO Unemployment Rate in February rose to 4.2% from 4%, weighing on Pound Sterling.
EUR/USD steadies above 1.0600, awaits German ZEW and Powell speech
EUR/USD is holding above 1.0600 in the European morning on Tuesday, having hit fresh five-month lows. The pair draws support from sluggish US Treasury bond yields but the rebound appears capped amid a stronger US Dollar and risk-aversion. Germany's ZEW survey and Powell awaited.
Gold price holds steady below $2,400 mark, bullish potential seems intact
Gold price oscillates in a narrow band on Tuesday and remains close to the all-time peak. The worsening Middle East crisis weighs on investors’ sentiment and benefits the metal. Reduced Fed rate cut bets lift the USD to a fresh YTD top and cap gains for the XAU/USD.
SOL primed for a breakout as it completes a rounding bottom pattern
Solana price has conformed to the broader market crash, following in the steps of Bitcoin price that remains in the red below the $65,000 threshold. For SOL, however, the sensational altcoin could have a big move in store.
Key economic and earnings releases to watch
The market’s focus may be on geopolitical issues at the start of this week, but there is a large amount of economic data and more earnings releases to digest in the coming days.