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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 EUR/USD pair has broken the 1.0966 level upwards and continues forming a growth structure to 1.1000. Once this level is reached, a decline link to 1.0966 is not excluded (a test from above). Right after that, another growth structure to 1.1010 could form. Next, a new decline wave to 1.0866 is expected.

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

GBP/USD has broken the 1.2733 level upwards and continues developing a corrective structure to 1.2790. Once the correction is over, a new decline wave to 1.2751 might begin. This is a local target.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed a growth wave to 145.81, and a correction to 144.90 is expected today. Once the correction is over, a new growth wave to 146.44 could start. This is the first target.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF continues developing a consolidation range under 0.8527, and today the range is expected to extend downwards to 0.8455. Next, a growth wave to 0.8598 could begin. This is the first target.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has completed a growth structure to 0.6723. A narrow consolidation range might form around this level today. With an escape upwards, the corrective wave to 0.6767 might continue. Once the correction is over, a new decline wave to 0.6600 by the trend could begin.

Brent

Brent continues developing a consolidation range around 77.65 without any bright trend. A growth link to 79.24 might form today, and once this level breaks upwards, the potential for a wave to 83.00 might open, from where the trend could continue to 84.00.

XAU/USD, “Gold vs US Dollar”

Gold continues developing a decline wave to 2014.80. Once it reaches this level, a new growth wave to 2051.65 could start. Upon breaking this level upwards as well, the trend could continue to 2131.78.

S&P 500

The stock index continues developing a growth structure to 4795.0. Once this level is reached, a new consolidation range might develop under this level. With an escape from the range downwards, a correction to 4725.0 might start. An upward escape might entail a price rise to 4805.0, from where the trend could continue to 4900.0.

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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.

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.