TRENDING:

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 completed a growth wave, reaching a local target of 1.0875. Today a correction structure targeting 1.0839 (testing from above) is expected. After the correction, an upward movement towards 1.0877 could follow, with the price subsequently declining to the first target of 1.0840.

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

The GBP/USD pair has completed a growth wave, reaching 1.2733. Today a correction towards 1.2679 could occur. After the correction is over, a growth structure to 1.2741 could develop, followed by a decline to 1.2670. This is the first target.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair remains in a consolidation phase around 150.35. Today a downward breakout towards 149.55 could occur. Next, the price might rise to 150.77, from where the trend could continue to 150.88. A breakout of this level will open the potential for a movement towards a local target of 151.70.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is currently in a consolidation phase around 0.8840. With a downward breakout, the price could decline to 0.8787. With an upward breakout, the trend might continue to a local target of 0.8933.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has completed a decline wave, reaching 0.6477. Today a corrective movement to 0.6522 could follow. Once the correction is over, another decline wave could develop, targeting 0.6464.

Brent

Brent continues developing a correction today, with the target at 81.18. After the correction is over, upward momentum to 85.85 is expected. This is a local target. Next, the price could undergo a correction to 82.70 and subsequently rise to 86.86.

XAU/USD, “Gold vs US Dollar”

Gold has completed a growth wave, reaching 2141.00. Today the market is forming a consolidation range below this level. A downward breakout and a correction towards 2066.00 are expected. After the correction is over, a new growth wave is expected to start, aiming for 2180.00 as a local target.

S&P 500

The stock index has completed a decline wave to 5058.0. Today a correction towards 5102.0 (testing from below) could develop. Practically, a wide consolidation range is forming around this level, which could expand to 5170.0. A downward breakout of this range will open the potential for a decline to 4959.0. This is the first target.

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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.