EUR/USD, “Euro vs US Dollar”
After completing the descending wave at 0.9834 along with the correction up to 0.9922, EURUSD is expected to fall to break 0.9800 and then continue trading downwards with the short-term target at 0.9744.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has finished the descending structure at 1.1226 along with the correction up to 1.1355. Today, the pair may resume trading downwards to break 1.1220 and then continue falling with the short-term 1.1000.
USD/JPY, “US Dollar vs Japanese Yen”
Having completed the ascending wave at 144.80, USDJPY is expected to resume falling to break 144.06 and then continue trading downwards with the target at 143.50.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is consolidating above 0.9797. Possibly, the pair may form one more ascending wave to reach 0.9999 and then start a new decline with the target at 0.9700.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is still consolidating around 0.6500. Possibly, today the pair may grow to reach 0.6600 and then resume trading downwards with the target at 0.6400.
Brent
After finishing the ascending wave at 94.76, Brent is forming a new consolidation there. Possibly, the asset may break the range to the upside and resume growing towards 95.00, or even extend this structure to reach the short-term target at 97.30.
XAU/USD, “Gold vs US Dollar”
After completing the descending wave at 1700.44 along with the correction up to 1722.22, Gold is expected to form a new descending structure to break 1694.22 and then continue trading downwards with the target at 1660.00.
S&P 500
Having finished the ascending wave at 3800.0, the S&P index is expected to start a new decline to break 3666.6 and then continue falling with the short-term target at 3500.0.
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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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