Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD has completed a growth wave to 1.1011. A consolidation range is expected to form around 1.1000 today. Extension of the range to 1.1015 is not excluded. Next, a decline link to 1.0972 might form (a test from below), followed by a rise to 1.1054. At this level, the potential for the growth wave will be exhausted.

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

GBP/USD is forming a consolidation range around 1.2675. Today it could extend to 1.2707. Next, a decline to 1.2675 might form, and once this level is reached, a rise to 1.2735 could follow.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY has corrected to 141.86. A growth link to 143.80 is expected today. Once this level breaks upwards, the potential for a wave to 145.75 could open.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF continues developing a decline wave to 0.8555. Upon reaching this level, the price might form a growth link to 0.8595, followed by a decline to 0.8543. Next, a rise to 0.8700 is expected.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has completed a growth wave to 0.6800. Today the pair could correct to 0.6765. Once this correction is over, a new growth wave to 0.6805 might develop.

Brent

Brent has broken the 79.33 level upwards and extends the growth wave to 80.45. Next, the instrument could correct to 79.20 (a test from above), after which a growth link to 83.00 is expected. This is the first target.

XAU/USD, “Gold vs US Dollar”

Gold continues developing a consolidation range around 2045.75. With a downward escape, a decline link to 1990.00 is not excluded. With an escape upwards, the potential for a growth link to 2076.80 could open, from where the trend might continue to 2118.00.

S&P 500

The stock index is forming a consolidation range around 4736.6. With an escape upwards, the correction could extend to 4763.6. With a downward escape, the decline might continue to 4700.0, from where the trend could extend to 4610.0.

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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.

AUD/USD keeps range near 0.6950 after Australian trade data

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USD/JPY is sitting at the top end of its weekly range above 158.00 in the Asian session on Thursday. Despite the softer US PCE data, oil-driven inflation risks keep US bond yields elevated near multi-year highs. Moreover, the US-Iran standoff benefits the safe-haven US Dollar and supports the pair. Broad US Dollar strength counters hawkish BoJ expectations and Japanese intervention risks.

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Gold trades without a clear direction on Thursday, always below the key $4,200 mark per troy ounce. The yellow metal’s vacillating price action comes amid the marked advance in the US Dollar coupled with steady effervescence in the Middle East conflict.

Crypto Today: Bitcoin, Ethereum, XRP struggle to regain momentum amid returning ETF outflows

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The market has rapidly changed its mind about the Fed. Only a week ago, investors saw an October interest-rate hike as the most likely outcome. However, softer inflation and cautious comments from policymakers have since turned a pause into the dominant scenario.

Markets are pricing a Fed pause. The jobs data says the hike is still coming

The market has rapidly changed its mind about the Federal Reserve (Fed). Only a week ago, investors saw an October interest-rate hike as the most likely outcome. However, softer inflation and cautious comments from policymakers have since turned a pause into the dominant scenario. Yet beneath that dramatic repricing, the US economy is sending a considerably less dovish message.