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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 expanded the consolidation range to the downside and reached its target. Right now, the market is consolidating to break the top of the previous ascending impulse. Possibly, the price may grow towards 1.1970. If later the instrument breaks this range to the upside, the market may reach 1.1970; if to the downside – continue falling inside the downtrend with the target at 1.1770.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair has broken the consolidation range to the upside and right now is still moving upwards. We think, today the price may extend this structure towards 1.3447. Later, in our opinion, the market may be corrected to reach 1.3150 and then form another ascending structure with the target at 1.3500.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair is being corrected towards 0.9573. After that, the instrument may grow to reach 0.9727.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is being corrected towards 109.27. Later, in our opinion, the market may grow to reach 110.25. If later the instrument breaks this trading range to the downside, the market may fall towards 107.00; if to the upside – continue growing with the target at 112.00.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair is still falling. We think, today the price may form the fifth descending structure towards 0.7928. After that, the instrument may grow to reach 0.8020.

USDRUB, "US Dollar vs Russian Ruble"

The USD/RUB pair is falling towards 57.00. Later, in our opinion, the market may grow to reach 57.50 and form another consolidation range. If later the instrument breaks this range to the downside, the market may reach 56.50; if to the upside – continue moving upwards with the target at 58.42.

XAUUSD, "Gold vs US Dollar"

Gold is consolidating around 1330; it has once again expanded the range to the downside and then returned to 1331. Possibly, the price may form another descending structure with the target at 1305 and then grow to return to 1331.

BRENT

Brent has reached the local target of the ascending wave and right now is falling. Possibly, the price may reach 54.50 and then grow towards 55.20, thus forming another consolidation channel. If later the instrument breaks this channel to the downside, the market may start another correction towards 51.00; if to the upside – reach 56.15.

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.

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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.

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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

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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.