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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 1.1870 and right now is still moving upwards. Possibly, the price may extend this growth to reach the upside border of the Expanding Triangle pattern. If later the instrument rebounds from this border, the market may fall towards 1.1650, break it, and then continue moving downwards with the target at 1.1450.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair has broken its consolidation channel to the upside. We think, today the price may continue growing towards 1.3320. Later, in our opinion, the market may fall to reach 1.2920.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair has broken its consolidation range downwards. Possibly, today the price may reach 0.9700. After that, the instrument may start growing towards the target at 0.9850.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is still consolidating in the center of the range. We think, today the price may break the downside border and continue falling to reach 111.38.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair has reached the target of the ascending wave. Possibly, today the price may start forming another descending structure with the target at 0.7780.

USDRUB, "US Dollar vs Russian Ruble"

The USD/RUB pair is falling towards 57.30. We think, today the price may test 57.75 and then fall inside the downtrend to reach 56.55.

XAUUSD, "Gold vs US Dollar"

Gold is trading to break the consolidation range to the upside. Possibly, the price may grow towards 1311 and then start falling to reach 1260.

BRENT

Brent is consolidating around 56.40. Possibly, the price may continue growing to reach 57.30 Later, in our opinion, the market may break this level and continue moving upwards with the target at 59.50.

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 struggles near 1.1850, with all eyes on US CPI data

EUR/USD holds losses while keeping its range near 1.1850 in European trading on Friday. A broadly cautious market environment paired with a steady US Dollar undermines the pair ahead of the critical US CPI data. Meanwhile, the Eurozone Q4 GDP second estimate has little to no impact on the Euro.

GBP/USD recovers above 1.3600, awaits US CPI for fresh impetus

GBP/USD recovers some ground above 1.3600 in the European session on Friday, though it lacks bullish conviction. The US Dollar remains supported amid a softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold remains below $5,000 as US inflation report looms

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains in the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.