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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 is consolidating at the top of the ascending wave. Possibly, the price may break this range to the downside and reach 1.1979. Later, in our opinion, the market may grow to reach 1.2000 and then start another descending structure with the first target at 1.1884.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair has completed the third structure of the descending wave along with the correction. Possibly, today the price may fall inside the fifth structure to reach the first target at 1.3422.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair is trading upwards. We think, today the price may form another ascending wave towards 0.9888. After that, the instrument may be corrected to reach 0.9800.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is moving downwards. The next target is at 110.68. Later, in our opinion, the market may form another consolidation range and then continue moving to the downside towards 110.20.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair is still consolidating at the top of the ascending structure. We think, today the price may fall to break 0.7815. The target of the correction is at 0.7666.

USDRUB, "US Dollar vs Russian Ruble"

The USD/RUB pair is moving downwards. The main downside target is at 56.55. Possibly, today the price may fall to reach 55.88, because the instrument is forming the fifth wave with extensions.

XAUUSD, "Gold vs US Dollar"

Gold is moving upwards. Possibly, today the price may fall towards 1310 and then grow to reach 1318. Later, in our opinion, the market may break 1305 downwards. The local target is at 1295.

BRENT

Brent continues rising; it has reached 70.00 and right now is being corrected. Possibly, the price may reach 69.00. After that, the instrument may continue growing inside the uptrend with the target at 71.00.

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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.