EURUSD, “Euro vs US Dollar”
The EUR/USD pair is still forming the descending impulse; right now, it is consolidating at 1.1739. The local downside target is at 1.1672. Later, in our opinion, the market may return to 1.1739 and then resume falling to reach 1.1630.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still forming the third ascending structure with the target at 1.3281. After that, the instrument may resume falling towards 1.3115.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair continues growing to reach 0.9974. Later, in our opinion, the market may fall to return to 0.9910 and then start another ascending structure with the target at 1.0100.
USDJPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has returned to 112.52 and right now is trading to the downside. Possibly, today the price may reach 111.82 and then resume growing with the target at 113.57.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair is falling to reach 0.7523. Later, in our opinion, the market may grow towards 0.7570 and then continue falling with the target at 0.7490.
USDRUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has returned to 59.50. Possibly, today the price may continue falling inside the downtrend with the target at 58.58 to finish the correction. After that, the instrument may start the fifth ascending structure towards 60.60.
XAUUSD, “Gold vs US Dollar”
Gold has reached 1276.00 and may yet continue falling towards 1272.30. Later, in our opinion, the market may grow to reach 1284.00 and then start another descending structure with the target at 1250.
BRENT
Brent is moving upwards. Possibly, the price may reach 64.85. After that, the instrument may fall towards 63.20 and then resume moving to the upside with the target at 66.00.
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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.