TRENDING:

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 is currently in a consolidation phase around 1.0707, with the market expanding the range down to 1.0650. Today, the range could extend up to 1.0758. Practically, a further correction is possible. Once the correction is complete, the price could break below the range towards 1.0585. A breakout of this level will open the potential for a downward wave by the trend towards 1.0535.

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

The GBP/USD pair is currently in a consolidation phase around 1.2525. Today, a rise to 1.2578 is not ruled out. Practically, a further correction is possible. Once the correction is complete, a new decline wave could start, aiming for 1.2466. A breakout of this level will open the potential for a decline towards the local target of 1.2370.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed a corrective wave, reaching 157.97. Today, the market continues to develop a decline wave and has formed a wave structure aiming for 153.00. A consolidation range is expected to form above this level. With a downward breakout, the decline wave might continue to the local target of 151.15. After reaching this level, the price could correct towards 154.60 (testing from below) and then decline to 149.05, representing the first target of the decline wave.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has reached the growth wave’s local target of 0.9223. Today, a correction towards 0.9106 is possible. Once the correction is complete, a new growth wave is expected to start, aiming for 0.9240, with the trend potentially continuing to 0.9258.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has completed a decline wave, reaching 0.6465. Today, a correction could develop to 0.6555. Once the correction is complete, a new decline wave could start, aiming for 0.6464. With a breakout of this level, the wave might continue to 0.6388, potentially expanding to 0.6300.

Brent

Brent has completed a corrective wave, reaching 85.67. A consolidation range has formed around this level. With a downward breakout, a correction could continue to 82.70. Once the correction is complete, a new growth wave could start, aiming for 88.66. A breakout of this level will open the potential for an upward wave by the trend towards 94.70.

XAU/USD, “Gold vs US Dollar”

Gold has completed a decline wave, reaching 2281.80. Today, a rise to 2341.11 is expected. After the price reaches this level, another corrective phase could follow, targeting 2270.10. Once the correction is complete, a new growth wave is expected to start, aiming for 2350.00.

S&P 500

The stock index is currently in a consolidation phase around 5053.5. The range might expand to 5100.0 today. Next, the price could break below this range, aiming for the local target of 4877.0.

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.