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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 completed a decline wave, reaching 1.0622. Today, the market is forming a consolidation range above this level. With an upward breakout, a correction phase targeting 1.0678 could follow. Once the correction is over, a new decline wave towards 1.0583 might start. A downward breakout will open the potential for a downward movement to the local target of 1.0583.

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

The GBPUSD pair has formed a consolidation range around the 1.2544 level and, breaking below it, completed a decline wave towards 1.2426. Today, the market is forming a new consolidation range above this level. With an upward breakout, a correction phase targeting 1.2484 is not ruled out, followed by a decline to 1.2380. A downward breakout will open the potential for a downward movement to 1.2380, with the trend potentially continuing to the local target of 1.2353.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair has formed a consolidation range below 153.33 and, breaking above it, maintains its upward trajectory to 154.00. After reaching this level, the price could correct to 153.33 (testing from above). Next, another growth wave could start, aiming for 154.51, from where the trend could expand to 155.75.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair is currently in a consolidation phase around 0.9115. A rise to 0.9156 is not ruled out today, followed by a correction towards 0.9115 (testing from above). Once the correction is over, another growth wave could start, aiming for the local target of 0.9177.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed a decline wave, reaching 0.6455. A correction towards 0.6503 might occur today. Next, the price is expected to start its downward movement to 0.6444, with the trend potentially continuing to 0.6400.

Brent

Brent has completed a growth wave, reaching 91.55. A correction phase targeting 88.88 is not ruled out today. Once the correction is over, another growth wave to the local target of 92.00 could start. After reaching this level, the price could correct to 90.25 and then embark on a new growth wave, targeting 94.00. The trend might continue to 95.00.

XAU/USD, “Gold vs US Dollar”

Gold has completed a growth wave towards 2431.50, with a subsequent decline impulse towards 2333.83. The market is forming a consolidation range around 2352.00 today. An upward breakout towards 2380.50 is not ruled out. A downward breakout will open the potential for a decline towards 2326.00, from where the movement might continue to 2273.27. After hitting this level, the price is expected to rise to 2355.00.

S&P 500

The stock index has completed a decline wave, reaching 5109.5. A correction phase towards 5157.5 could follow today. After the correction, a decline wave targeting 5099.9 could start. Next, a consolidation range is expected to develop around this level. With a downward breakout, the price might maintain its downward trajectory to 5084.0, with the trend potentially developing to the local target of 5000.0.

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.