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Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent

RoboForex Team RoboForex

EURUSD, "Euro vs US Dollar"

The EUR/USD pair has reached the target of the correction and right now is consolidating at the top of the ascending wave. Possibly, today the price may break this range to the downside and start forming the fifth wave inside the downtrend. The target is at 1.0500.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair is consolidating in the center of the range without any particular direction. Possibly, today the price may break 1.2460. The target is at 1.2344. However, if the instrument breaks 1.2500 to the upside, the market may move upwards to reach 1.2582.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair has reached the target of the correction and right now is consolidating. After breaking the range to the upside, the price may start the fifth ascending wave towards 1.0125.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is still being corrected. Possibly, today the price may grow towards 113.83. Later, in our opinion, the market may fall with target at 112.60 and then start another growth to reach 115.30.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair is falling towards 0.7650. After reaching this level, the instrument may grow to with the target at 0.7700. Later, in our opinion, the market may break 0.7650 to the downside and continue falling to reach 0.7500.

USDRUB, "US Dollar vs Russian Ruble"

The USD/RUB pair has completed the correction. Possibly, today the price may break 57.90 upwards and then grow to reach 58.40.

XAUUSD, "Gold vs US Dollar"

Gold has completed another ascending structure. Possibly, today the price may fall towards 1213.50. After breaking this level to the downside, the instrument may continue moving downwards to reach the local target at 1192.00.

BRENT

Brent has reached the target of the descending structure. Possibly, today the price may grow towards 56.25 and then start another decline to reach the local target at 54.50.

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 flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold holds above $5,000 as bears seem hesitant amid Fed rate cut bets

Gold edges lower at the start of a new week, though it defends the $5,000 psychological mark through the Asian session. The underlying bullish sentiment is seen acting as a headwind for the bullion. However, bets for more rate cuts by the Fed, bolstered by Friday's softer US CPI, keep the US Dollar bulls on the defensive and continue to support the non-yielding yellow metal as the focus now shifts to FOMC Minutes on Wednesday.

Week ahead: Data blitz, Fed Minutes and RBNZ decision in the spotlight

The US jobs report for January, which was delayed slightly, didn’t do the dovish Fed bets any favours, as expectations of a soft print did not materialize, confounding the raft of weak job indicators seen in the prior week.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.