EUR/USD, “Euro vs US Dollar”
EUR/USD is still forming the descending structure towards 1.1000. After that, the instrument may start another correction to reach 1.1066 and then resume trading downwards with the target at 1.0950.
GBP/USD, “Great Britain Pound vs US Dollar”
After breaking 1.3128 and reaching the short-term target at 1.3087, GBPUSD is expected to correct and test 1.3128 from below. Later, the market may fall to reach 1.3030 or even extend this structure down to 1.2999.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has finished the correctional structure at 122.60; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may resume falling with the short-term target at 120.77; if to the upside – continue the correction towards 123.50 and then start a new decline to reach the above-mentioned target.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is consolidating around 0.9255. Today, the pair may form one more ascending wave towards 0.9292. Later, the market may start a new correction to test 0.9255 from above and then resume growing with the first target at 0.9320.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is still consolidating around 0.7495. Possibly, the pair may grow to reach 0.67252 and then fall to break 0.7450. Later, the market may continue trading downwards with the target at 0.7400.
Brent
Brent is consolidating above 105.50. Possibly, today the asset may start another growth to break 114.44. After that, the instrument may continue moving within the uptrend with the target at 125.00 or even extend this structure up to 129.20.
XAU/USD, “Gold vs US Dollar”
Gold is falling towards 1908.50 and may form one more ascending wave to break 1955.00. After that, the instrument may continue trading upwards with the short-term target at 2004.60.
S&P 500
The S&P index has finished the first descending impulse towards 4509.9; right now, it is correcting up to 4577.0 and may later form the second descending impulse with the short-term target at 4395.2. After that, the instrument may correct towards 4487.4 and then continue moving within the downtrend with the first target at 4372.0.
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Editors’ Picks
EUR/USD maintains its constructive tone near 1.1400
EUR/USD remains well bid in the proximity of the 1.1400 hurdle on Thursday, deriving support from the renewed selling pressure in the US Dollar as investors continue to assess the ongoing absence of further progress in the US-China trade conflict.
GBP/USD appears sidelined around 1.3300, USD remains offered
GBP/USD holds its ground near the 1.3300 mark on Thursday amid a strong rebound in the broader risk-linked universe, all against tha backdrop of renewed weakness around the Greenback and steady uncertainty over US–China trade relations.
Gold eases from tops, back near $3,300
Gold manages to regain composure and reverses two daily drops in a row, currently approaching the $3,300 mark per troy ounce following the earlier bull run to the boundaries of $3,370. Furthermore, XAU/USD attracted safe-haven flows amid renewed concerns of a US-China trade flare-up.
Bitcoin Price corrects as increased profit-taking offsets positive market sentiment
Bitcoin (BTC) is facing a slight correction, trading around $92,000 at the time of writing on Thursday after rallying 8.55% so far this week. Institutional demand remained strong as US spot Exchange Traded Funds (ETFs) recorded an inflow of $916.91 million on Wednesday.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
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