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XAU/USD

Silver

Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD has completed a correction to 1.0889. A growth link to 1.0949 is expected today. Practically, a consolidation range is forming around 1.0950. With an escape from the range upwards, the quotes could rise to 1.1050. With a downward escape, the potential for a price decline to 1.0770 might open.

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

GBP/USD has completed a correction wave to 1.2656. A growth link to 1.2707 is expected today, followed by a decline to 1.2622. Upon reaching this level, the pair could start a growth structure to 1.2707. Practically, a wide consolidation range could develop around this level. With a downward escape, the potential for a decline wave to 1.2500 might open.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY continues developing a consolidation range around 142.22 without any obvious trend. With an escape upwards, the potential for a correction to 143.44 might open, followed by a decline to 140.33. Next, a rise to 143.43 is expected, from where the trend might continue to 146.55. This is the first target.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF continues forming a consolidation range around 0.8694. A decline to 0.8610 is expected today, followed by a rise to 0.8694 (a test from below). Next, a decline to 0.8566 might form. Once this level is reached, a growth wave to 0.8800 could start.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD continues forming a consolidation range under 0.6700. With an escape downwards, a correction to 0.6633 might follow. Next, a growth link to 0.6740 is expected. Upon reaching this level, the price might begin a decline wave to 0.6525.

Brent

Brent continues developing a growth wave to 78.50. Once this level is reached, a correction link to 75.30 might follow. Next, a growth link to 80.15 is expected, from where the trend could continue to 84.72. This is a local target.

XAU/USD, “Gold vs US Dollar”

Gold has completed a correction to 2047.55. Next, a decline wave to 1948.80 might form, followed by a growth link to 2047.50. After that, the price could drop to 1940.00, from where the wave might continue to 1855.00.

S&P 500

The stock index continues developing a consolidation range around 4722.0 without any obvious trend. With an escape upwards, the range could extend to 4751.0. Next, a corrective decline to 4655.5 might form, followed by a growth link to 4767.0.

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 hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.