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XAU/USD

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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”

EURUSD has rebounded from 1.1537 and reached the predicted downside target at 1.1461; right now, it is consolidating above the latter level. Today, the pair may move downwards to reach 1.1440. Later, the market may grow to return to 1.1461 and then form a new descending structure with the target at 1.1386. This structure may be considered as the third descending wave.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating above 1.2758. Possibly, today the pair may fall to reach 1.2787 and then grow towards 1.2825. After that, the instrument may continue consolidating and form a new descending structure with the target at 1.2725.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating at the top. Today, the pair may reach 0.9862 and then fall towards 0.9791. Later, the market may form one more ascending structure to return to 0.9862, break it, and then continue growing with the target at 0.9920.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading downwards to reach 107.51. After that, the instrument may start a new growth towards 109.31 and then form a new descending structure to return to 107.51, break it, and then continue trading inside the downtrend with the target at 105.95.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the descending impulse along with the correction; right now, it is forming the second descending impulse with the target at 0.7129. Later, the market may resume growing towards 0.7186 and then start a new decline to reach 0.7022.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still trading around 66.98. Possibly, today the pair may expand the range towards 67.32. After that, the instrument may resume falling to reach 66.50 and then start a new correction with the target at 68.13.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating at the top. Possibly, the pair may expand the range towards 1297.60 and then resume falling to reach 1282.22. Later, the market may form one more ascending structure to reach 1300.00 and then start a new decline with the target at 1276.50.

BRENT

Brent has finished the first descending impulse along with the correction; right now, it is forming the second impulse with the target at 58.86. After that, the instrument may reach 60.06 and then form a new descending structure towards 57.66. Later, the market may resume growing with the target at 64.34.

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 holds losses near 1.1850 as US, China holidays keep trade muted

EUR/USD opens the week on a softer note, trading near 1.1860 during the Asian session on Monday. Activity is likely to remain muted, with United States markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold remains below $5,050 despite Fed rate cut bets, uncertain geopolitical tensions

Gold edges lower after registering over 2% gains in the previous session, trading around $5,030 per troy ounce during the Asian hours on Monday. However, the non-interest-bearing Gold could further gain ground following softer January Consumer Price Index figures, which reinforced expectations that the Federal Reserve could cut rates later this year.

Week ahead: Data blitz, Fed Minutes and RBNZ decision in the spotlight

The US jobs report for January, which was delayed slightly, didn’t do the dovish Fed bets any favours, as expectations of a soft print did not materialize, confounding the raft of weak job indicators seen in the prior week.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

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.