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XAU/USD

Forex Technical Analysis & Forecast: EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, Gold, Brent

RoboForex Team RoboForex

EURUSD, “Euro vs US Dollar”

EURUSD has returned to 1.2240 and right now is still moving downwards. Possibly, today the price may break 1.2180. The short-term target is at 1.1970.

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

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has returned to 1.4000. Today, the price may fall to break 1.3920. The short-term target is at 1.3720.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still moving upwards. Possibly, the price may reach 0.9860 and then start another consolidation range. After that, the instrument may break this range to the upside and then grow to reach 0.9898.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues growing. Possibly, today the price may break 109.18. The target is at 109.87. Later, the market may start another consolidation range near the highs.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues falling with the short-term target at 0.7570. After that, the instrument may form another consolidation range near the lows. If later the instrument breaks this range to the downside, the market may continue trading to the downside to reach 0.7420; if to the upside – start another correction towards 0.7777.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating and moving towards 61.17. If later the instrument breaks this range to the downside, the market may continue trading to the downside to reach 58.15; if to the upside – start another correction towards 63.00.

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

XAUUSD, “Gold vs US Dollar”

Gold has returned to 1331.00 downwards. Today, the price may continue trading to the downside to reach the short-term target at 1308.00.

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

BRENT

Brent is forming another descending impulse towards 72.85. Later, the market may grow to reach 74.00, thus forming another consolidation range. If later the instrument breaks this range to the downside, the market may start another correction to reach 71.00; if to the upside – resume growing towards 75.90.

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 weakens as US jobs data trims Fed rate cut bets

The EUR/USD pair trades in negative territory for the third consecutive day near 1.1860 during the early European session on Thursday. Traders will keep an eye on the US weekly Initial Jobless Claims data. On Friday, the attention will shift to the US Consumer Price Index inflation report.

GBP/USD bullish outlook prevails above 1.3600, UK GDP data looms

The GBP/USD pair gains ground near 1.3635, snapping the two-day losing streak during the early European session on Thursday. The preliminary reading of UK Gross Domestic Product for the fourth quarter will be closely watched later on Thursday. The UK economy is estimated to grow 0.2% QoQ in Q4, versus 0.1% in Q1.

Gold remains on the defensive below two-week top; lacks bearish conviction amid mixed cues

Gold sticks to modest intraday losses through the Asian session on Thursday, though it lacks follow-through selling and remains close to a nearly two-week high, touched the previous day. The commodity currently trades above the $5,070 level, down just over 0.20% for the day, amid mixed cues.

UK GDP set to post weak growth as markets rise bets on March rate cut

Markets will be watching closely on Thursday, when the United Kingdom’s Office for National Statistics will release the advance estimate of Q4 Gross Domestic Product. If the data land in line with consensus, the UK economy would have continued to grow at an annualised pace of 1.2%, compared with 1.3% recorded the previous year.

The market trades the path not the past

The payroll number did not just beat. It reset the tone. 130,000 vs. 65,000 expected, with a 35,000 whisper. 79 of 80 economists leaning the wrong way. Unemployment and underemployment are edging lower. For all the statistical fog around birth-death adjustments and seasonal quirks, the core message was unmistakable. The labour market is not cracking.

Sonic Labs’ vertical integration fuels recovery in S token

Sonic, previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility.