EURUSD, “Euro vs US Dollar”
The EUR/USD pair has broken 1.1831 downwards. Possibly, today the price may fall to reach 1.1784 and then grow towards 1.1830. After that, the instrument may form another descending structure with the local target at 1.1723.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has completed the second descending impulse along with the correction. We think, today the price may form the third one with the target at 1.3310. Later, in our opinion, the market may resume growing towards 1.3425.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating to break 0.9865. Possibly, the price may continue growing towards 1.0017. After that, the instrument may be corrected to return to 0.9865 and then continue growing inside the uptrend with the target at 1.0100.
USDJPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving downwards. Possibly, the price may reach 112.02 and then resume growing towards 112.45. Later, in our opinion, the market may continue falling with the target at 111.88.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to the downside. We think, today the price may reach 0.7551. After that, the instrument may break this level downwards and then continue falling with the target at 0.7400.
USDRUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is trading to break the ascending channel to the downside. The target is at 58.29. Later, in our opinion, the market may resume falling towards 58.68 and then start another decline to reach the local target at 57.95.
XAUUSD, “Gold vs US Dollar”
Gold has reached 1261 and right now is moving upwards to test 1272 from below. Possibly, the price may form another consolidation range near the lows. If later the price breaks this range to the downside, the market may continue falling towards the local target at 1250; if to the upside – start another correction to reach 1283.
BRENT
Brent is expected to reach 63.63, thus forming a new consolidation channel. If later the price breaks this channel to the upside, the market may grow towards 66.00; if to the downside – continue the correction to reach 61.00.
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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.