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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”

EUR/USD continues developing a correction. Today the price has reached the local target of this correction at 1.0908. A decline link to 1.0880 is expected, after which a new growth link to 1.0913 is expected. Once the correction is over, a new decline link to 1.0838 might start.

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

GBP/USD continues developing a consolidation range around 1.2668. Later the range might expand to the 1.2742 level. Practically, the movement will become a correction of the first decline wave. Once this correction is over, a new growth wave to 1.2588 could begin. This is a local target.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY continues developing a consolidation range around 148.01, which could extend to the 147.18 level. Once this level is reached, a new growth wave to 149.17 could begin.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has reached the local target of the growth wave to 0.8696. Currently, the market is forming a consolidation range under this level. With an escape from the range downwards, a correction link to 0.8585 is not excluded, followed by a rise to 0.8705. This is the first target.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has completed a correction wave to 0.6612. Today the market is forming a consolidation range under this level. The range could later extend to 0.6590. With an escape from it downwards, the potential for a decline wave to 0.6524 might open, from where the trend could continue to 0.6498.

Brent

Brent has completed a growth wave to 79.74, and today the market is forming a correction to 78.11. Once the correction is over, a new growth wave to 80.65 might form, from where the trend could continue to 82.12. This is a local target.

XAU/USD, “Gold vs US Dollar”

Gold has completed a correction to 2039.35, forming a decline structure to 2021.50 today. Next, a new correction link to 2040.40 might follow. Once it is over, a new decline link to 1988.00 could form.

S&P 500

The stock index has formed a consolidation range around 4795.0 and, escaping it upwards, it continues extending the growth wave. By now, the market has reached the local target of 4857.0. A decline link to 4795.0 is not excluded (a test from above). Next, a growth link to 4875.5 is expected.

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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.