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 correction wave to 1.0804. By now, the market has broken the 1.0777 level downwards, continuing the third decline wave to 1.0722. With a breakout of this level, the trend could extend to 1.0650. This is a local target.

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

The GBP/USD pair has escaped a consolidation range downwards. Practically, a decline wave extends to the 1.2515 level. Once it is reached, a growth link to 1.2590 might follow (testing from below). Next, a decrease towards 1.2380 is expected. This is a local target.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair continues developing a consolidation range around 151.45 without any obvious trend. A growth link towards 151.89 is not excluded today. Next, a decline link to 151.50 might follow, after which a rise towards 152.08 could develop. This is a local target.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair continues developing a consolidation range around 0.9033. Today the market has extended the range upwards to 0.9064. A decline link to 0.9033 is expected (testing from above), followed by a rise to 0.9102. This is a local target.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has escaped a consolidation range downwards and continues developing a decline wave towards 0.6468. Once this level is reached, a growth link to 0.6502 is expected (testing from below), followed by a decline to 0.6390. This is a local target.

Brent

Brent has broken the 87.20 level and continues developing the wave to 88.11. Once this level is reached, a correction link to 87.20 is not excluded (testing from above). Next, a rise to 89.11 could follow, from which level the trend might continue to 90.40. This is a local target.

XAU/USD, “Gold vs US Dollar”

Gold has completed a decline wave to 2228.50, correcting to 2259.66 today. Practically, the market has set the frames for a consolidation range. With a downward escape, the potential for a decline wave to 2214.22 might open. With an upward escape from the range, a growth link to 2280.28 is not excluded. This is a local target.

S&P 500

The stock index continues developing a consolidation range around 5256.0. A decline link to 5232.0 could develop today. Once this level is reached, a growth link to 5303.0 is not excluded. With a downward escape from the range, the potential for a decline wave towards 5169.0 could open. 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.