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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 gained support at the 1.0836 level from the news and started developing a correction. A growth link towards 1.0940 could follow. Once this level is reached, a decline link to 1.0888 is not excluded. Next, another correction link to 1.0944 could form. After the correction is over, a new decline wave to 1.0818 might start. This is the first target.

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

The GBP/USD pair gained support at 1.2684 from the news, and today the market suggests a correction towards 1.2807. Once the correction is over, a new decline wave to 1.2595 might start. This is the first target.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has corrected to 150.35. A growth wave towards 151.41 might begin. And if this level also breaks, the potential for a wave to 152.60 could open, from which level the trend might extend towards 152.80.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has corrected towards 0.8838. The correction might extend to 0.8833 (testing from above). Once this correction is over, a new growth wave to 0.8920 could start. And if this level also breaks, the potential for a wave towards 0.8975 might open. This is the first target.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair gained support at 0.6512 from the news and started developing a correction. Today the quotes might reach 0.6634. Next, a decline link to 0.6575 and a correction to 0.6640 could follow. Once this correction is over, a new decline link to 0.6474 might begin. This is the first target.

Brent

Brent has completed a correction wave to 85.00. Today the quotes might rise to 87.00. If this level also breaks, the potential for a wave towards 89.20 could open, from which level the trend might extend to 89.90. This is the first target.

XAU/USD, “Gold vs US Dollar”

Gold gained support at 2150.00 from the news and extended the growth wave. By now, it has reached the local target of 2222.77. A correction link towards 2183.66 is not excluded today. Once the correction is over, a growth link to 2260.00 might follow. This is the first target.

S&P 500

The stock index, supported by the news, has broken a consolidation range upwards and suggests extending the growth wave to 5260.0. Once this level is reached, a decline to 5185.0 is expected. Next, a rise to 5272.0 could follow. After reaching this level, the quotes might start a new decline wave to 5185.0.

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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.