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Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent, BTC/USD

RoboForex Team RoboForex

EUR/USD, "Euro vs US Dollar"

EURUSD is still consolidating around 1.1039. Possibly, today the pair may fall to break 1.1015 and then continue trading inside the downtrend with the predicted target at 1.0965.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBP/USD, "Great Britain Pound vs US Dollar"

After finishing the descending impulse at 1.2315, GBPUSD has completed the correction towards 1.2365. Today, the pair may fall to break 1.2315 and then continue trading downwards with the predicted target at 1.2244.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USD/CHF, "US Dollar vs Swiss Franc"

USDCHF has broken 0.9919 to the upside. Possibly, today the pair may test this level from above and then resume growing towards 0.9940. Later, the market may be corrected with the target at 0.9900.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USD/JPY, "US Dollar vs Japanese Yen"

USDJPY has broken 107.20 upwards. Possibly, the pair may start a new growth towards 107.70. After that, the instrument may be corrected to return to 107.20.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUD/USD, "Australian Dollar vs US Dollar"

AUDUSD has completed the descending impulse towards 0.6850. Today, the pair may start another correction to reach 0.6864, thus forming a new consolidation range at the top. If later the price breaks this range to the downside, the instrument may start a new decline with the first target at 0.6828.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USD/RUB, "US Dollar vs Russian Ruble"

USDRUB is moving downwards. Possibly, today the pair may reach 65.17 and then trade upwards to break 65.65. After that, the instrument may continue growing towards 66.15.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USD/CAD, "US Dollar vs Canadian Dollar"

USDCAD is moving upwards to reach 1.3191. Later, the market may fall towards 1.3164 and then form one more ascending structure with the first target at 1.3237.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAU/USD, "Gold vs US Dollar"

Gold has reached the target of the first descending wave. Today, the pair may consolidate near the lows. Possibly, the price may form a new descending structure towards 1485.88 and then start another growth with the target at 1506.30.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is moving upwards; after breaking 62.62, it has almost completed the ascending structure at 65.10. Possibly, today the pair may continue trading upwards to reach 65.10 and then start another correction to return to 62.62. After that, the instrument may resume trading inside the uptrend with the first target at 67.67.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTC/USD, "Bitcoin vs US Dollar"

BTCUSD is consolidating 10335.00. Possibly, the pair may expand the range towards 10638.00. However, according to the main scenario the price is expected to resume trading inside the downtrend with the target at 9730.00.

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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 recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.