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.
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.