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 has completed a downward impulse, reaching 1.0737. Today, the market is forming a narrow consolidation range above this level. With an upward breakout, a corrective phase is not ruled out, aiming for 1.0757. With a downward breakout, the trend might continue to 1.0700. A breakout of this level will open the potential for a decline wave towards the local target of 1.0580.

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

The GBP/USD pair has broken below 1.2525 and continues to develop a wave to 1.2414. After the price reaches this level, a corrective phase could follow, targeting 1.2525 (testing from below). Next, a new decline wave could start, aiming for 1.2270 and potentially continuing to 1.2170. This is the target of the first decline wave by trend.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed a corrective wave, reaching 155.25. A new consolidation range could form below this level. With a downward breakout, another decline wave could develop, targeting 153.58. If this level also breaks, the trend might continue to 151.40 representing the first target of the decline wave.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair continues to develop a growth wave towards 0.9114. After the price reaches this level, a corrective phase could follow, targeting 0.9060 (testing from above). Next, a new growth wave might start, aiming for 0.9180 and potentially continuing to 0.9222. This is the first target of the growth wave.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has completed a decline wave, reaching 0.6568. Today, the market is forming a narrow consolidation range above this level. With an upward breakout, a corrective phase is not ruled out, aiming for 0.6595. A downward breakout will open the potential for a wave towards 0.6515, with the trend potentially continuing to the decline wave’s first target of 0.6400.

Brent

Brent continues to develop a narrow consolidation range around 83.33, with the price potentially exiting the range upwards, aiming for 85.65. After the price hits this level, a corrective phase is not ruled out, targeting 84.00. Subsequently, a new growth wave could start, aiming for the local target of 88.64.

XAU/USD, “Gold vs US Dollar”

Gold is currently in a consolidation phase around 2320.00. An upward breakout will open the potential for a wave towards 2354.00. With a downward breakout, the correction might continue to 2266.00.

S&P 500

The stock index is currently in a consolidation phase below 5202.0. A downward breakout will open the potential for a decline wave towards 5097.0. Once the price reaches this level, a corrective phase might follow, targeting 5149.0. Next, the price could decline to 5000.0 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.