EUR/USD, “Euro vs US Dollar”
Having completed the ascending wave at 1.1000 and then breaking this level, EURUSD is expected to continue growing towards 1.1042. After that, the instrument may resume falling to return to 1.1000 and then form one more ascending wave with the target at 1.1048.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the ascending structure at 1.3212 and then breaking it to the upside, GBPUSD is expected to continue this correction up to 1.3255. Later, the market may resume trading downwards with the target at 1.3212.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY has completed the ascending wave at 122.40 along with the correction towards 121.40. Possibly, today the pair may start a new growth to reach 122.68 and then resume trading downwards with the target at 121.40.
USD/CHF, “US Dollar vs Swiss Franc”
Having completed the descending wave at 0.9263, USDCHF is consolidating above this level. Possibly, the pair may break the range to the upside and resume trading upwards with the target at 0.9317.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has finished the ascending wave at 0.7520. Today, the pair may consolidate around this level for a while. After that, the instrument may break the range to the downside and resume trading downwards with the target at 0.7390.
Brent
Having completed the correction at 117.00, Brent is expected to grow towards 124.80 and may later start a new correction to reach 112.50. After that, the instrument may resume trading upwards with the target at 127.00.
XAU/USD, “Gold vs US Dollar”
Gold has finished the ascending wave at 1966.00. Possibly, today the metal may correct down to 1941.60. Later, the market may grow towards 1969.56 or even extend this structure up to 1990.99.
S&P 500
The S&P index continues growing towards 4545.0 and may later start a new decline to reach 4450.0. After that, the instrument may form one more ascending structure towards 45590.0 and then resume moving within the downtrend with the target at 4070.0.
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Editors’ Picks
EUR/USD clings to daily gains near 1.0300 after US PMI data
EUR/USD trades in positive territory at around 1.0300 on Friday. The pair breathes a sigh of relief as the US Dollar rally stalls, even as markets stay cautious amid geopolitical risks and Trump's tariff plans. US ISM PMI improved to 49.3 in December, beating expectations.
GBP/USD holds around 1.2400 as the mood improves
GBP/USD preserves its recovery momentum and trades around 1.2400 in the American session on Friday. A broad pullback in the US Dollar allows the pair to find some respite after losing over 1% on Thursday. A better mood limits US Dollar gains.
Gold retreats below $2,650 in quiet end to the week
Gold shed some ground on Friday after rising more than 1% on Thursday. The benchmark 10-year US Treasury bond yield trimmed pre-opening losses and stands at around 4.57%, undermining demand for the bright metal. Market players await next week's first-tier data.
Stellar bulls aim for double-digit rally ahead
Stellar extends its gains, trading above $0.45 on Friday after rallying more than 32% this week. On-chain data indicates further rally as XLM’s Open Interest and Total Value Locked rise. Additionally, the technical outlook suggests a rally continuation projection of further 40% gains.
Week ahead – US NFP to test the markets, Eurozone CPI data also in focus
King Dollar flexes its muscles ahead of Friday’s NFP. Eurozone flash CPI numbers awaited as euro bleeds. Canada’s jobs data to impact bets of a January BoC cut. Australia’s CPI and Japan’s wages also on tap.
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