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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 finished the fourth structure. We think, today the price may fall towards 1.2121 and then grow to reach 1.2222. Later, in our opinion, the market may start another decline with the target at 1.2060.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair is still moving upwards. Possibly, the price may reach 1.39040 and then fall towards 1.3700. According to the main scenario, the pair is expected to start another descending wave with the target at 1.3300.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair is consolidating at the bottom of the range. According to the main scenario, the pair is expected to form another ascending structure with the target at 0.9664. Later, in our opinion, the market may break this level and continue growing towards 0.9774.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is forming the fourth structure. Possibly, today the price may fall to reach 110.57 and then start another growth with the target at 111.70. After that, the instrument may be corrected towards 111.00.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair is consolidating. Possibly, the price may reach 0.8025 and then fall towards the downside border. Later, in our opinion, the market may break 0.7925 and then continue moving downwards with the first target at 0.7885.

USDRUB, "US Dollar vs Russian Ruble"

The USD/RUB pair is trading to rebound from 56.94 downwards. We think, today the price may continue falling with the target at 55.88 and then start another correction to reach 57.62.

XAUUSD, "Gold vs US Dollar"

Gold is trading below 1332.00. Possibly, the price may continue falling to reach 1309.00. After that, the instrument may grow towards 1332.00 and then start another decline with the first target at 1305.00.

BRENT

Brent has reached the downside border of the Triangle pattern. Possibly, today the price may move upwards to reach 70.20, break it, and then continue growing with the target at 72.00.

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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.