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 downward impulse, reaching 1.0751. The market has corrected to 1.0790 today and is currently developing another decline structure aiming for the local target of 1.0700. After the price reaches this level, a corrective phase is not ruled out, targeting 1.0744. Subsequently, the price could decline to 1.0680, with the trend potentially continuing to 1.0580.

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

The GBPUSD pair has completed a downward impulse, reaching 1.2530. The market has corrected to 1.2592 today and is currently developing another decline wave aiming for 1.2454. After the price hits this level, a corrective phase is not ruled out, targeting 1.2524. Subsequently, the price could fall to 1.2414, from where the trend might continue to 1.2350.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair continues to develop a decline wave towards 151.36. After reaching this level, the price could correct to 155.20 (testing from below). Once the correction is complete, a new decline wave could start, aiming for 149.00 representing the first target of the decline wave.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair continues to develop a growth wave towards 0.9090. After the price reaches this level, a corrective phase is not ruled out, targeting 0.9050 (testing from above). Next, a new growth wave could start, aiming for 0.9115, with the trend potentially continuing to the local target of 0.9182.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair is forming a consolidation range below 0.6646. A downward breakout of the range towards the first target of 0.6518 is expected. After the price reaches this level, a corrective phase is not ruled out, targeting 0.6588. Next, the price could decline to 0.6455, from where the trend might expand to 0.6350.

Brent

Brent has completed a corrective wave, reaching 82.70. Today, the market is forming a consolidation range above this level. An upward breakout is expected, with the growth wave developing towards the first target of 88.64. After the price reaches this level, a corrective wave is not ruled out, aiming for 85.66. Subsequently, a new growth wave could start, targeting 91.60 and potentially continuing to 95.00.

XAU/USD, “Gold vs US Dollar”

Gold has completed a decline wave, reaching 2277.10. The price is expected to correct to 2353.33 today. After reaching this level, the price could decline to 2315.77. Practically, a new consolidation range could form within these levels. With a downward breakout, the decline wave might continue to 2266.40. With an upward breakout, a rise towards 2400.00 is expected.

S&P 500

The S&P 500 index continues to develop a correction, aiming for 5186.5. Once the price hits this level, a new decline wave could start, targeting 5000.0 and potentially expanding to 4868.8. A breakout of this level will open the potential for a wave towards the local target of 4590.0.

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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.