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 extended a consolidation range towards 1.0806. Today, a decline structure is forming, aiming for 1.0766. A breakout of this level will open the potential for a wave to 1.0744, with the trend potentially continuing to the local target of 1.0680.

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

The GBP/USD pair has extended a consolidation range towards 1.2565. Today, the price could decline to the range’s lower boundary at 1.2505. A breakout of this level will open the potential for a wave to 1.2444, with the trend potentially continuing to the local target of 1.2333.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed a growth wave, reaching 156.15. Today, the market has formed a narrow consolidation range around this level and, breaking above it, enables the extension of the growth wave towards 156.66. After the price reaches this level, a new consolidation range could form below this level. With a downward breakout of this range, a decline wave could start, aiming for 154.00 as the first target.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has extended a consolidation range towards 0.9045. Today, a growth wave structure is forming, targeting 0.9129. After the price hits this level, a new consolidation range could develop around this level. With an upward breakout, the trend might continue to the local target of 0.9218.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has extended a consolidation range towards 0.6626. Today, a decline structure is forming, targeting 0.6580. A downward breakout of this level will open the potential for a wave to 0.6464, potentially continuing to the local target of 0.6420.

Brent

Brent has received support at 82.01 and continues to develop a growth structure, aiming for 83.80. Once the price reaches this level, a new consolidation range is expected to develop. With an upward breakout, the growth wave might expand to 85.55, potentially continuing to the local target of 86.00.

XAU/USD, “Gold vs US Dollar”

Gold has completed a decline wave, reaching 2331.50. Today, the market is forming a consolidation range above this level. A rise to 2351.65 (testing from below) is not ruled out, followed by a decline to 2323.50. A breakout of this level will open the potential for a wave to 2270.00, from where the trend might continue to 2245.70. This is the first target of the decline wave.

S&P 500

The stock index is currently in a consolidation phase around 5222.2 without any strong trend. The consolidation range might expand to 5246.5. With a downward breakout, a new decline wave could start, aiming for 5165.0 and potentially continuing to 5081.0. This is 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.