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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 EUR/USD pair escaped the consolidation range upwards and completed a growth link at 1.0710. Today it might drop to 1.0666 (testing from above). Next, a new correction link towards 1.0733 could follow. Once this correction is over, a new decline wave targeting 1.0585 might begin. This is a local target.

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

The GBP/USD pair formed a consolidation range around 1.2399, breached its upper boundary and completed a growth link at 1.2463. A decline towards 1.2390 might follow today (testing from above). Next, a new correction structure to 1.2499 could form, and once it is over, a new decline wave targeting 1.2280 might start. This is a local target.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming a consolidation range around 154.60 without any obvious trend. Today the market hovers at the upper boundary of this range. In case the quotes break the 154.82 level, the potential for a rise towards 155.00 might open, from which level the trend could extend to 155.30. And once this level is reached, a new decline wave targeting 153.66 could begin. This is the first target.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair continues developing a consolidation range around 0.9100. A decline link targeting 0.9080 is not excluded today. Next, this range might be breached by the quotes targeting 0.9170, from which level the trend could continue towards 0.9195. This is the first target of the growth wave.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD escaped a consolidation range upwards and completed a correction towards 0.6525. A new consolidation range might form under this level today. With a downward escape from the range, a decline to 0.6480 is expected. And if this level is also breached, the potential for a wave towards 0.6440 could open.

Brent

Brent received support at 85.20 and formed a growth wave structure targeting 87.40. Practically, a new consolidation range has formed. Today it might be breached at 89.20. Once this level is reached, a correction link towards 87.22 is not excluded (testing from above). Next, a rise to 89.30 is expected. This is the first target.

XAU/USD, “Gold vs US Dollar”

Gold continues forming a consolidation range around 2315.00. A growth link targeting 2337.37 is not excluded today (testing from below). Next, a new decline wave towards 2275.00 is expected. This is a local target.

S&P 500

The stock index formed a consolidation range around 5006.0 and breached it upwards, potentially forming a correction link. A growth link to 5087.7 has formed today. A new consolidation range is expected to form under this level. With a downward escape from the range, the potential for a wave targeting 4900.0 could open. With an upward escape, a correction link to 5126.6 is not excluded, from where the trend might continue to 4811.0. 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.