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XAU/USD

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 completed the first descending impulse at 1.1287 along with the correction. Possibly, today the pair may form a new descending structure with the short-term predicted target at 1.1262.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken the ascending channel. Today, the pair may start a new decline towards 1.2882 ad then form one more ascending structure to reach 1.2905. After that, the instrument may resume trading inside the downtrend with the first target at 1.2828.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming another ascending structure. Possibly, today the pair may reach 1.0065 and then resume falling towards 1.0045, thus forming a new consolidation range. If later the instrument breaks this range to the upside, the price may resume trading upwards to reach 1.0104; if to the downside – start a new correction towards 1.0017 and then form one more ascending structure with the target at 1.0104.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the upside target at 110.63. Possibly, the pair may fall to break 110.25 and then and continue trading inside the downtrend to with the target at 109.82.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has also reach the upside target at 0.7160. Today, the pair may resume trading inside the downtrend towards 0.7030.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached 66.22; right now, it is consolidating around this level. If later the instrument breaks this range to the downside, the price may continue trading inside the downtrend towards 60.90; if to the upside – start a new correction with the target at 66.64.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1324.24. Possibly, the pair may break the range to the upside and reach 1332.22. However, if the instrument breaks this range to the downside, the price may start a new correction with the target at 1316.00.

BRENT

Brent is consolidating below 66.66. Possibly, the pair may trade downwards to reach 64.74. However, if the price breaks 66.66 to the upside, the instrument may form one more ascending structure with the target at 68.45.

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 lower ground near 1.1850 ahead of EU/ US data

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1850 in European trading on Friday. A broadly cautious market environment paired with modest US Dollar demand undermines the pair ahead of the Eurozone GDP second estimate and the critical US CPI data.

GBP/USD keeps losses around 1.3600, awaits US CPI for fresh impetus

GBP/USD holds moderate losses at around 1.3600 in the European session on Friday, though it lacks bearish conviction. The US Dollar remains supported amid softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold trims intraday gains to $5,000 as US inflation data loom

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.