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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 correction wave at 1.0664. After the correction, the market continues developing a decline wave to 1.0585. A wave structure towards 1.0606 has been formed by now. A technical test of 1.0622 is expected today, followed by a decline to 1.0585. This is a local target. Once this level is reached, a correction targeting 1.0733 is expected to start.

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

The GBPUSD pair has corrected to 1.2498. After the correction, the market continues developing a decline wave to 1.2380. By now, a wave structure towards 1.2420 has been finished. A technical test of 1.2438 from below is expected today, followed by a decline to 1.2380. This is a local target. Once this level is reached, a correction targeting 1.2545 could begin.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair continues forming a consolidation range above 154.08. With an upward escape from the range, the growth wave might continue to 154.80, from where the trend could extend towards 155.75. Once this level is reached, a correction towards 152.65 might begin.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair continues forming a consolidation range around 0.9127. A growth link to 0.9166 is not excluded. Next, a correction towards 0.9127 (testing from above) is expected. Once this correction is over, a new growth wave to 0.9177 could start. This is a local target.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed a correction wave to 0.6492. Once it is over, the market continues developing a new decline wave to 0.6400. A structure towards 0.6408 has formed today. A technical test of 0.6447 from below is not excluded, followed by a decline to 0.6400. This is a local target. After this level is reached, a correction towards 0.6480 could begin.

Brent

Brent has corrected to 88.20 and has formed a growth impulse targeting 90.20 today. A decline link to 89.20 is not excluded. Next, a growth wave targeting 92.06 might begin, from where the trend could extend to 94.00. This is a local target.

XAU/USD, “Gold vs US Dollar”

Gold has formed a decline wave to 2324.33 and a correction link towards 2391.00 today. A consolidation range is expected to form under this level. With a downward escape from the range, a decline wave targeting 2306.66 could begin. If this level also breaks, the wave might extend to 2266.00. With an upwards escape from the range, a growth link targeting 2431.00 is not excluded.

S&P 500

The stock index has formed a correction wave targeting 5172.5 and a decline wave towards 5042.4 today. A growth link to 5107.0 is expected (testing from below). Next, a decline wave towards 5000.0 might start. This is a local target. Once this level is reached, a correction wave targeting 5107.0 is expected to begin. After that, a wave to 4927.7 might start. This level is the target of the first decline wave.

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

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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.

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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.