TRENDING:

XAU/USD

Silver

Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

The EURUSD pair has completed a decline wave, reaching 1.0780. By now, the market has corrected to 1.0817. A decline wave targeting 1.0746 is forming today. Once the price reaches this level, a correction towards 1.0780 (testing from below) could start, with the movement continuing to the local target of 1.0700.

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

The GBPUSD pair has completed a decline wave, reaching 1.2567, and corrected to 1.2631. A decline wave targeting 1.2595 is forming today. A breakout of this level will open the potential for a movement to 1.2540, from where the trend might continue to 1.2525.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair is currently in a consolidation phase around 151.45 without any strong trend. A decline to 150.95 is not ruled out today. Next, the price could rise to 151.50. An upward breakout of this level will open the potential for a movement to 152.00, with the trend possibly continuing to 152.80.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair is currently in a consolidation phase around 0.9033. Today, the price declined to 0.8998, practically forming a corrective wave. Growth to 0.9033 (testing from below) is expected. Subsequently, another corrective structure could develop, aiming for 0.8992. After this correction is over, a new growth wave towards 0.9100 could start.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed a decline wave, reaching 0.6485, and corrected to 0.6527. Another decline wave targeting 0.6464 is expected today. After reaching this level, the price could correct to 0.6515 (testing from below).

Brent

Brent maintains its upward trajectory to 87.42. After hitting this level, the price could correct to 85.70 (testing from above). Next, a new growth wave towards 89.00 could start, with the trend potentially developing to the local target of 90.40.

XAU/USD, “Gold vs US Dollar”

Gold has formed a narrow consolidation range around 2194.11 and, breaking above it, surged to 2231.31. Today, a consolidation range is expected to form below this level. With a downward breakout, a corrective phase to 2194.11 (testing from above) could follow, with the price subsequently rising to 2239.33.

S&P 500

The stock index has completed a growth wave, reaching 5270.0. A decline to 5244.4 is not ruled out today. Next, another growth structure targeting 5277.7 could develop. Once the price reaches this level, the decline wave to 5211.1 could start. This is the first target.

Author

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.