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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 local upside target; it has already finished the descending impulse and broken its low. We think, today the price may test 1.0736 from below and then fall towards the target at 1.0695. Later, in our opinion, the market may be corrected to reach 1.0736. The instrument is expected to form another consolidation channel. After breaking it downwards, the pair may continue falling to reach 1.0620.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still consolidating at the top of the ascending wave. Possibly, today the price may continue falling to reach 1.2720 and then start another growth with the target at 1.2860, thus forming another consolidation range. After breaking it downwards, the instrument may be corrected to reach 1.2550.

USDCHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has reached the local downside target; the instrument has already finished the ascending impulse and broken its high. Possibly, the price may grow towards 1.0000 and then fall with the target at 0.9965. Later, in our opinion, the market may grow to reach 1.0040.

USDJPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached the target of the five-wave structure and right now is trading to break the channel of this structure. Possibly, the price may fall to reach 108.75.

AUDUSD, “Australian Dollar vs US Dollar”

The AUD/USD pair is growing towards 0.7555. After that, the instrument may form anther descending wave to break 0.7500. The target is at 0.7420.

USDRUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is expected to continue consolidating around 56.00. Later, in our opinion, the market may break this range to the downside to reach 55.50.

XAUUSD, “Gold vs US Dollar”

Gold continues trading without any particular direction; it is forming another consolidation range around 1281. After that, the instrument may fall towards 1270 and then test 1281 from below. Later, in our opinion, the market may start moving downwards to reach 1267.

BRENT

Brent is consolidating at its lows. Possibly, the price may fall towards 52.83. After that, the instrument may grow with the target at 54.26.

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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 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 clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

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

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

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.