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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 growth wave, reaching 1.0752, and declined to 1.0673. Practically, the market continues to form a wide consolidation range around 1.0666, potentially expanding the range to 1.0760 today. The entire growth structure is perceived as a correction. Once the correction is complete, another decline wave is expected to start, aiming for 1.0666. A breakout of this level will open the potential for a wave to 1.0580, representing the first target of another decline wave.

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

The GBPUSD pair has completed a growth wave, reaching 1.2540, and declined to 1.2448. Practically, the market indicated the boundaries of a consolidation range, which could expand to 1.2570 today. Subsequently, a decline wave towards 1.2444 could start. A breakout of this level will open the potential for a decline by the trend to 1.2300.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair has completed a growth wave, reaching 160.16. Today, the market started to form the first decline impulse towards the first target of 154.64. After the price reaches this level, a correction of the impulse could follow, aiming for 157.37 (testing from below). Once the correction is complete, a decline wave could start, aiming for the local target of 150.00.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair has completed a growth wave, reaching 0.9151. A link of decline to 0.9100 is not ruled out today. Subsequently, the price might continue its upward momentum to 0.9195, representing the first target of the growth wave. After reaching this level, the price is expected to correct to 0.9100.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair is currently in a consolidation phase around 0.6535. Today, the range might expand to 0.6598. Next, another decline wave targeting 0.6482 is expected to start, with the trend potentially continuing to 0.6363. This is the first target of the decline wave.

Brent

Brent has formed a consolidation range around 88.08, with the market breaking below the range today. Practically, the market is considering the probability of a correction to 86.50. Once the correction is complete, another growth wave towards 92.70 is expected to start, with the trend potentially continuing to 94.00.

XAU/USD, “Gold vs US Dollar”

Gold has completed a growth wave, reaching 2352.25, and corrected to 2323.23. Today, the market is forming a consolidation range above this level. With an upward breakout, another growth structure could follow as part of the correction, aiming for 2365.35. Once the correction is complete, a decline wave towards 2282.90 is expected. This is the main target of the decline wave.

S&P 500

The stock index continues to develop a correction, with a rise towards 5140.8 possible today. After the price reaches this level, a new decline wave could start, targeting 4991.0. A breakout of this level will open the potential for a decline wave towards 4837.0, representing the first target of another 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

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.