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.

EURUSD

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.

GBPUSD

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.

USDJPY

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.

USDCHF

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.

AUDUSUD

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.

Brent

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.

XAUUSD

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.

SP 500

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EUR/USD rises toward 1.0950 amid intense USD selling

EUR/USD rises toward 1.0950 amid intense USD selling

EUR/USD is rising toward 1.0950 in Wednesday's European trading. The US Dollar resumes the downside amid heightened September Fed rate cut bets, supporting the pair. The focus remains on the mid-tier US data and Fedspeak 

EUR/USD News

GBP/USD scales fresh 2024 highs above 1.3000 after UK CPI data

GBP/USD scales fresh 2024 highs above 1.3000 after UK CPI data

GBP/USD trades above 1.3000, refreshing 2024 highs in the European session on Wednesday. The data from the UK showed that annual CPI inflation held steady at 2% in June. This reading alongside a broad US Dollar sell-off underpins the pair. 

GBP/USD News

USD/JPY tumbles to 156.00 amid risk-aversion, technical breakdown

USD/JPY tumbles to 156.00 amid risk-aversion, technical breakdown

USD/JPY is off the lows but under heavy selling pressure on the 156.00 level in European trading on Wednesday. Souring risk sentiment and a technical breakdown has fuelled the USD/JPY meltdown, as Japanese intervention risks loom. 

USD/JPY News

Gold rises on Kugler’s comments and Shanghai bets

Gold rises on Kugler’s comments and Shanghai bets

Gold is rising as expectations firm of falling interest rates in the US – a positive for the precious metal. Fed’s Adriana Kugler says a combination of falling inflation and weakening labor market could force rate cut “later this year”.

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Bitcoin surpasses $65,000 mark

Bitcoin surpasses $65,000 mark

Bitcoin closes above the daily resistance level of $64,900, with Ethereum and Ripple subsequently breaking through their resistance levels, indicating an emerging bullish trend.

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