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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 completed this wave and right now is being corrected. We think, today the price may continue consolidating at the highs of the current ascending wave. After breaking 1.1927, the instrument may form another descending impulse to reach 1.1855.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair has completed the correction of the first descending impulse and formed another consolidation range in the form of the Diamond pattern. Possibly, the price may fall to break the low at 1.3444. The target is at 1.3222.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair has completed the descending correctional structure, Possibly, today the price may break the correctional channel to the upside. The next target is at 0.9817.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is trading to rebound from 112.65 to the downside. Possibly, the price may reach 111.52. Later, in our opinion, the market may grow towards 112.12 and then continue falling with the target at 109.60.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair has reached the predicted target at 0.7912. We think, today the price may consolidate around 0.7924. If later the instrument breaks this consolidation channel to the downside, the market may fall towards 0.7755; if to the upside – start another correction with the target at 0.8000.

USDRUB, "US Dollar vs Russian Ruble"

Being under pressure, the USD/RUB pair is moving downwards. Possibly, the price may reach 57.48. Later, in our opinion, the market may choose an alternative scenario and form another ascending structure towards 58.67. The main scenario implies that the instrument may continue falling with the target at 56.55.

XAUUSD, "Gold vs US Dollar"

Being under pressure, Gold is moving upwards. Possibly, the price may be corrected towards 1302 and then fall to reach 1284. After that, the instrument may continue the correction towards 1320.

BRENT

Brent has rebounded from 55.54 upwards and completed the ascending wave at 56.20. Later, in our opinion, the market may be corrected to the downside to reach the first target at 54.00. An alternative scenario suggests that the instrument may form another ascending structure towards 56.40 and then continue falling inside the downtrend.

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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.