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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 corrected to 1.0863 and performed a decline wave to 1.0820. A consolidation range is currently forming above this level. With an upward escape from the range, a correction link towards 1.0840 is not excluded. With a downward breakout, the potential for a decline to 1.0805 might open, from which level the trend could continue to 1.0780.

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

The GBP/USD pair corrected to 1.2666 and formed a decline wave to 1.2608. Currently, a consolidation range is forming above this level. With an upward escape from the range, a correction towards 1.2636 is expected. With a downward breakout, the potential for a decline wave to 1.2574 might open, from which level the trend might extend to 1.2545.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed a growth wave to 151.96. A correction towards 151.46 is not excluded today (testing from above). Once the correction is over, a growth wave to 152.10 could start, from which level the trend might extend towards 152.70.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has completed a growth wave towards 0.9040. A consolidation range is forming under this level today. With a downward escape from the range, a correction link to 0.9005 is not excluded, while with an upward breakout the potential for a growth wave towards 0.9066 might open, from which level the trend could continue to 0.9103.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair corrected towards 0.6557 and formed a decline wave to 0.6511 today. Currently, a consolidation range is forming above this level. With an upward escape from the range, the potential for a correction towards 0.6534 could open. A downward escape might open the potential for a decline to 0.6495, from which level the trend could continue to 0.6470.

Brent

Brent continues developing a consolidation range around 85.65 without any obvious trend. A decline link towards 84.33 is not excluded, followed by a rise to 86.86, from which level the trend might extend to 89.00. This is a local target.

XAU/USD, “Gold vs US Dollar”

Gold has completed a correction wave to 2199.66 and a decline wave towards 2177.27 today. A consolidation range is currently forming above this level. With an upward escape from the range, a correction link to 2185.90 is not excluded. With a downward escape, the potential for a decline wave to 2155.33 might open, from which level the trend could extend to 2140.40.

S&P 500

The stock index has completed a correction wave to 5249.3 and a decline wave to 5212.0. A consolidation range is currently forming above this level. With an upward escape from the range, a correction link to 5230.0 is not excluded. With a downward escape, the potential for a wave to 5200.0 might open, from where the trend could continue to 5193.0. This is a local 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.