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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 almost completed the correction and right now forming a new descending impulse. Possibly, the price may reach 1.17954 and then grow towards 1.1816. After that, the instrument may resume falling to reach 1.1726. And that's just a half of the wave with the local target at 1.1600.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair has broken the consolidation channel downwards and right now is still falling. The local target of the wave is at 1.3050. Later, in our opinion, the market may be corrected towards 1.3131 and then continue falling inside the downtrend with the target at 1.2920.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair has finished the correction along with the ascending impulse to break 0.9836, and right now is being corrected. We think, today the price may fall towards 0.9800. After that, the instrument may continue growing with the target at 0.9931.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is moving upwards. Possibly, the price may choose an alternative scenario and grow towards 114.08. According to the main scenario, the market may fall to reach 111.35.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair is still consolidating above 0.7821. If later the instrument breaks this range to the upside, the market may grow and reach 0.7925; if to the downside – resume falling inside the downtrend towards the local target at 0.7750.

USDRUB, "US Dollar vs Russian Ruble"

The USD/RUB pair is trading below 57.54 and may continue the correction to reach 57.86. Later, in our opinion, the market may continue falling inside the downtrend towards the local target at 56.65.

XAUUSD, "Gold vs US Dollar"

Gold has returned to 1288.80, rebounded from it downwards, and right now is still falling. Possibly, the price may fall to reach 1270.70 and then trade to the upside with the target at 1288.80.

BRENT

Brent has completed the correction. We think, today the price may grow to break the descending correctional channel. After that, the instrument may break the channel and continue moving upwards with the target at 58.90. Later, in our opinion, the market may fall towards 57.80 and then start another growth to reach 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.

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