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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”

The EUR/USD pair is forming a consolidation range around 1.0760. A decline link to 1.0755 is not excluded today. The quotes might escape the range upwards, aiming at 1.0823. Once this level is reached, a new decline wave to 1.0717 is expected. This is the first target of a new decline wave.

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

The GBP/USD pair is forming a consolidation range around 1.2600. A decline structure to 1.2575 might form today. Once this level is reached, a growth link to 1.2639 could form, followed by a decline to 1.2570. And if this level also breaks, the potential for a decline wave to 1.2500 could open.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has concluded a growth wave to 150.35. A consolidation range is currently forming around this level. With a downward escape from the range, the potential for a decline to 149.37 might open. And with an escape upwards the growth wave could extend to 150.80.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has escaped a consolidation range upwards and might form a correction link to 0.8841. Once this level is reached, a decline link to 0.8787 is not excluded. And with a breakout of this level, the potential for a decline to 0.8740 might open.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is forming a consolidation range around 0.6537. A growth link to 0.6565 might follow. Next, a new decline wave to 0.6500 is expected. And if this level also breaks, a decline to 0.6535 could form.

Brent

Brent continues developing a growth wave to 84.50. Once this level is reached, a correction link to 82.35 might follow. Once this correction is over, a growth wave to 86.55 could start. This is the first target.

XAU/USD, “Gold vs US Dollar”

Gold has completed a growth wave to 2022.85. Today the quotes could correct to 2013.13 (a test from above). Next, another growth structure to 2033.00 might follow. Upon reaching this level, the quotes could begin a decline to 2009.25.

S&P 500

The stock index is forming a consolidation range around 4997.3. A decline link to 4979.0 is expected, followed by a rise to 4997.0 (a test from below) and a decline to 4952.0. This is a local target.

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.