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Forex Technical Analysis and 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”

After forming a continuation pattern around 1.1111 and breaking 1.1153, EUR/USD has almost reached the short-term upside target at 1.1098. Possibly, today the pair may consolidate around 1.1180 and expand this range both upwards and downwards, 1.1200 and 1.1155 respectively. If later the price breaks this range to the upside, the market may resume moving upwards with the key target at 1.1236 if to the downside – start a new correction to reach 1.1111.

GBP/USD, “Great Britain Pound vs US Dollar”

After rebounding from 1.3050 and breaking 1.3225, GBP/USD has almost reached the short-term target of the third ascending wave at 1.3488. Today, the pair may consolidate around this level. If later the price breaks this range to the downside at 1.3420, the market may start a new correction to reach 1.3333; if to the upside at 1.3511 – expand the range towards 1.3539 and then resume moving downwards with the target at 1.3200.

USD/CHF, “US Dollar vs Swiss Franc”

After reaching the downside target at 0.9808, USD/CHF has formed the ascending impulse towards 0.9870; right now, it is consolidating around 0.9845. Possibly, today the pair may expand this range both downwards and upwards, 0.9820 and 0.9880 respectively. If later the price breaks this range to the upside, the market may start another correction with the target at 0.9916; if to the downside – form a new descending structure to reach 0.9777.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY has broken 109.00; right now, it is still growing towards 109.77. Today, the pair may reach 109.70 and then start a new correction towards 109.40, at least. After that, the instrument may form one more ascending structure to reach to 109.77.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has reached the short-term upside target at 0.6916; right now, it is consolidating at the top. Possibly, the pair may fall to reach 0.6878 (at least) and then resume moving upwards with the key upside target at 0.6962.

USD/RUB, “US Dollar vs Russian Ruble”

USD/RUB has reached the short-term downside target at 62.75. Possibly, today the pair may consolidate near the lows. If later the price breaks this range to the downside at 62.60, the market may continue trading inside the downtrend towards 62.22; if to the upside at 62.80 – start a new correction with the target at 63.25 and then resume trading inside the downtrend.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is moving downwards with the target at 1.3140. Today, the pair may reach 1.3147 and then form one more ascending structure towards 1.3200. Later, the market may resume moving downwards to reach the above-mentioned target.

XAU/USD, “Gold vs US Dollar”

Gold has completed the ascending wave at 1486.60 along with the descending impulse at 1468.60; right now, it is consolidating around the latter level. The main scenario implies that the price may form a new descending structure towards 1458.20 and then resume moving upwards to return to 1468.60. Later, the market may start another decline with the target at 1444.00.

BRENT

Brent has finished the ascending impulse at 65.15; right now, it is correcting downwards to reach 64.30. After that, the market may start a new growth with the short-term target at 65.90.

BTC/USD, “Bitcoin vs US Dollar”

BTC/USD is without any particular direction. According to the main scenario, the price is expected to fall towards 7000.00 and then resume moving upwards with the target at 7600.00.

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 remains depressed below mid-1.1800s; downside potential seems limited

The EUR/USD pair attracts some sellers for the second consecutive day on Tuesday and hovers below mid-1.1800s amid a relatively quiet trading action during the Asian session. The broader fundamental backdrop, however, warrants some caution for bearish traders before positioning for deeper losses.

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The United Kingdom labor market data for the three months ending December is scheduled to be published today at 07:00 GMT. GBP/USD trades 0.16% lower to near 1.3610 at the press time. The 20-period Exponential Moving Average slips to 1.3631 and caps rebounds as price holds below the gauge.

Gold downside appears capped ahead of US-Iran talks

Gold is off the lows but remains under moderate selling pressure below the $5,000 threshold early Tuesday. Gold now looks to the US-Iran nuclear deal talks for a fresh trading impetus as US traders return after the long weekend.

Jupiter rises on native SOL staking, TVL rebound

Jupiter edges higher by 3% at press time on Tuesday, approaching the $0.1700 level. The lending protocol announced native staking as collateral, allowing users to borrow against natively staked SOL on certain vaults.

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.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.