EUR/USD, “Euro vs US Dollar”

EUR/USD has completed a declining wave to 1.0631. By now, it has performed a link of growth to 1.0686. A decline to 1.0648 is expected today. Practically, a consolidation range is forming around this level. The range might then extend to 1.0700. Next, the price could drop to 1.0608 and perform an impulse of growth to 1.0760. This is the first target.

EURUSD

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

GBP/USD has completed a wave of decline to 1.2379. Today the market is forming a consolidation range above this level. A link of growth to 1.2404 is expected. Practically, a consolidation range is forming around this level. It might later extend downwards to 1.2365. After the price hits this level, an impulse of growth to 1.2444 might develop. This is the first target.

GBPUSD

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY has completed a wave of growth to 147.94. Next, a decline to 147.51 and a link of growth to 147.99 could form. After the quotes reach this level, an impulse of decline to 146.95 might follow. This is the first target.

USDJPY

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has completed a wave of growth to 0.8976. Today the market is forming a consolidation range under this level. A link of decline to 0.8947 is expected, followed by a link of growth to 0.8980. Upon reaching this level, the price could form a declining impulse to 0.8888. This is the first target.

USDCHF

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has completed a link of growth to 0.6472. A wave of decline to 0.6420 could form today. After that a link of correction to 0.6446 and a decline to 0.6393 are expected. The latter is a local target.

AUDUSD

Brent

Brent has completed a wave of correction to 92.15, and today it could extend to 96.30. Upon reaching this level, the price might form a link of decline to 94.15. Next, a rise to 97.15 could follow. This is a local target.

Brent

XAU/USD, “Gold vs US Dollar”

Gold has formed a consolidation range around 1917.15 and might escape it upwards, extending its correction to 1933.00. After the price reaches this level, a link of growth to 1901.33 is expected. This is a local target.

XAUUSD

S&P 500

The stock index has completed an impulse of decline to 4449.0. Today the market is forming a consolidation range above this level. An escape downwards to 4416.5 is expected. Upon reaching this level, the price could develop a link of correction to 4468.4 (with a test from below). Next, a decline to 4389.0 is expected. This is a local target.

S&P 500

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Editors’ Picks

EUR/USD stays below 1.0700 after upbeat US PMI data

EUR/USD stays below 1.0700 after upbeat US PMI data

EUR/USD stays on the back foot and trades in negative territory below 1.0700 as the US Dollar benefits from upbeat data in the American session. S&P Global reported that the economic activity in the US private sector continued to expand at a robust pace in June.

EUR/USD News

GBP/USD drops to fresh multi-week low below 1.2650

GBP/USD drops to fresh multi-week low below 1.2650

GBP/USD remains under bearish pressure and trades at its lowest level since mid-May below 1.2650. The stronger-than-forecast Manufacturing and Services PMI data from the US helps the USD hold its ground and causes the pair to stretch lower.

GBP/USD News

Gold drops below $2,340 as US yields rebound

Gold drops below $2,340 as US yields rebound

Gold loses its traction and trades deep in the red below $2,340 in the second half of the day on Friday. The benchmark 10-year US Treasury bond yield pushes higher following the upbeat PMI data from the US, weighing on XAU/USD.

Gold News

Bitcoin retraces to crucial support

Bitcoin retraces to crucial support

Bitcoin price encounters resistance at weekly highs before retracing to seek support at a crucial level, while Ethereum and Ripple align closely with Bitcoin's movements, gearing up to surpass resistance barriers and embark on upward rallies.

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Week ahead – US PCE inflation the highlight of a relatively light agenda

Week ahead – US PCE inflation the highlight of a relatively light agenda

Core PCE inflation to test bets of two Fed rate cuts in 2024. Yen awaits BoJ Summary of Opinions, Tokyo CPI. Canadian CPI data also enters the spotlight.

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