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 growth structure, reaching 1.0664. Today, the market has formed a consolidation range around this level. A downward breakout will open the potential for a movement to the local target of 1.0585. With an upward breakout, the correction might continue to 1.0733 (testing from below). Next, the price could decline to 1.0585, from where the trend might develop to 1.0480.

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

The GBPUSD pair is currently in a consolidation phase around 1.2444. The price might rise to 1.2487 today, practically forming a correction of the previous decline wave. Once the correction is over, a new decline wave could start, aiming for the local target of 1.2381.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair has formed a consolidation range around 154.30. Another link of decline towards 153.83 is not ruled out. The decline is interpreted as a correction of the previous upward momentum. Once the correction is over, a new growth wave targeting 154.80 could start. A breakout of this level will open the potential for the trend continuation to 155.75.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair is currently in a consolidation phase above 0.9094. A decline to 0.9084 is not ruled out today, which is interpreted as a correction of the previous growth wave. After the correction, a new growth wave targeting 0.9168 could start, with the trend potentially continuing to 0.9180.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed a correction wave, reaching 0.6455. The market is forming a consolidation range below this level today. With a downward breakout, the movement might continue to 0.6380, from where the trend could expand to the local target of 0.6330.

Brent

Brent has formed a consolidation range around 88.53 and, breaking below it, continues to develop a correction. Today, the market has completed a decline to 86.66. A growth structure targeting 88.50 (testing from below) could occur, followed by a decline to 85.55. Subsequently, a new growth wave towards 91.55 might start, with the trend potentially continuing to 95.00.

XAU/USD, “Gold vs US Dollar”

Gold is currently in a consolidation phase around 2378.00. With a downward breakout, a corrective decline to 2306.66 is expected, followed by a rise to 2355.00 and a subsequent fall to 2266.00. With an upward breakout, the price might rise to 2400.00. After reaching this level, the price could decline to 2300.00.

S&P 500

The stock index has completed a decline wave, reaching 5010.0. The market is forming a consolidation range above this level today. With an upward breakout, a correction phase targeting 5062.0 is not ruled out, followed by a decline to 5000.5, from where the trend might continue to 4950.5.

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.

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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.