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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 EURUSD pair has completed a decline wave, reaching 1.0791. Today, the market may correct towards 1.0845. After the price reaches this level, another decline wave to 1.0778 is expected to start, with the trend potentially continuing to the local target of 1.0714.

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

The GBPUSD pair has completed a decline wave, reaching 1.2574. Today, the market is correcting towards 1.2648. After reaching this level, the price is expected to maintain its downward trajectory towards 1.2569, from where the trend might expand to the local target of 1.2492.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair has completed a growth wave, reaching 151.74. The market is forming a consolidation range around this level today. With an upward breakout, growth towards 152.04 is not ruled out. With a downward breakout, the price might decline towards 150.63.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair has risen to 0.9041. A correction phase, targeting 0.9011, is not ruled out today. Once the correction is over, a growth wave towards 0.9050 could develop, with the trend potentially expanding towards the local target of 0.9088.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair had completed a decline wave, reaching 0.6549. A correction towards 0.6589 is expected today. Once the correction is over, a decline wave towards 0.6555 is expected, from where the trend might develop towards the local target of 0.6520.

Brent

Brent has completed a growth wave towards 91.49. Today, the market is forming a correction, aiming for 88.00. After the correction, a new growth wave towards 93.50 could start, with the trend potentially continuing towards 97.00 as the first target.

XAU/USD, “Gold vs US Dollar”

Gold has completed a growth wave, reaching 2353.83 today. A consolidation range is expected to form below this level. With a downward breakout, the price might correct towards 2305.55 and then rise to the local target of 2380.70. After the price hits this level, a correction towards 2300.00 could follow.

S&P 500

The stock index has corrected towards 5226.6. A consolidation range is expected to form below this level today. A downward breakout will open the potential for a decline wave towards 5125.0 as the first target. After reaching this level, the price could correct towards 5205.0 and then decline to 5111.0.

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.