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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 performed a wave of decline to 1.0803. Today, the market is forming a consolidation range above this level, potentially further declining towards 1.0801. A subsequent correction towards 1.0830 is probable, followed by a potential decline to 1.0777, serving as a local target.

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

The GBPUSD pair broke through 1.2702 and continues its decline towards 1.2678. After reaching this level, a rise towards 1.2702 (testing from below) is possible, followed by a potential decline to 1.2660, serving as a local target. Following this, a correction towards 1.2702 could be considered.

USD/JPY, “US Dollar vs Japanese Yen”

The USDJPY pair found support at 156.52 and may rise towards 157.26. Following this, the price may decline to 156.19, with a breakout below this level opening the potential for a wave towards 155.15, serving as the first target.

USD/CHF, “US Dollar vs Swiss Franc”

The USDCHF pair continues to develop a consolidation range above 0.9133. Today, a rise towards 0.9176 is expected, potentially extending to 0.9188. Following this, a correction towards 0.9090 could be considered.

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair is undergoing a downward wave towards 0.6580. After reaching this level, a correction towards 0.6616 (testing from below) is possible. Subsequently, the price may decline to 0.6554, serving as a local target.

Brent

Brent oil continues to develop a correction, with the local target at 80.72 already reached. Today, a rise towards 82.00 is probable, followed by another correction towards 79.79. Subsequently, a new growth wave towards 84.10 is expected, serving as the first target.

XAU/USD, “Gold vs US Dollar”

Gold has performed a wave of decline to 2326.46. Today, the market is forming a consolidation range above this level. An upward breakout could initiate a correction towards 2384.80 (testing from below). Subsequently, the price may decline to 2319.50, serving as the first target of the decline wave.

S&P 500

After rebounding from 5351.1, the S&P 500 index has commenced a downward wave towards 5231.1. After reaching this level, a correction towards 5290.5 (testing from below) is possible, followed by a new decline wave towards 5200.0.

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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.