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Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent

RoboForex Team RoboForex

EURUSD, "Euro vs US Dollar"

The EUR/USD pair has almost completed the correction and right now forming a new descending impulse. Possibly, the price may reach 1.17954 and then grow towards 1.1816. After that, the instrument may resume falling to reach 1.1726. And that's just a half of the wave with the local target at 1.1600.

GBPUSD, "Great Britain Pound vs US Dollar"

The GBP/USD pair has broken the consolidation channel downwards and right now is still falling. The local target of the wave is at 1.3050. Later, in our opinion, the market may be corrected towards 1.3131 and then continue falling inside the downtrend with the target at 1.2920.

USDCHF, "US Dollar vs Swiss Franc"

The USD/CHF pair has finished the correction along with the ascending impulse to break 0.9836, and right now is being corrected. We think, today the price may fall towards 0.9800. After that, the instrument may continue growing with the target at 0.9931.

USDJPY, "US Dollar vs Japanese Yen"

The USD/JPY pair is moving upwards. Possibly, the price may choose an alternative scenario and grow towards 114.08. According to the main scenario, the market may fall to reach 111.35.

AUDUSD, "Australian Dollar vs US Dollar"

The AUD/USD pair is still consolidating above 0.7821. If later the instrument breaks this range to the upside, the market may grow and reach 0.7925; if to the downside – resume falling inside the downtrend towards the local target at 0.7750.

USDRUB, "US Dollar vs Russian Ruble"

The USD/RUB pair is trading below 57.54 and may continue the correction to reach 57.86. Later, in our opinion, the market may continue falling inside the downtrend towards the local target at 56.65.

XAUUSD, "Gold vs US Dollar"

Gold has returned to 1288.80, rebounded from it downwards, and right now is still falling. Possibly, the price may fall to reach 1270.70 and then trade to the upside with the target at 1288.80.

BRENT

Brent has completed the correction. We think, today the price may grow to break the descending correctional channel. After that, the instrument may break the channel and continue moving upwards with the target at 58.90. Later, in our opinion, the market may fall towards 57.80 and then start another growth to reach 59.50.

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 flat lines around 1.1900; looks to US NFP report for fresh directional impetus

The EUR/USD pair is seen oscillating in a narrow trading band around the 1.1900 mark during the Asian session on Wednesday as traders opt to wait for the release of US monthly employment details before placing fresh directional bets.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold awaits US Nonfarm Payrolls data for a sustained upside

Gold remains capped below $5,100 early Wednesday, gathering pace for the US labor data. The US Dollar licks its wounds amid persistent Japanese Yen strength and potential downside risks to the US jobs report. Gold holds above $5,000 amid bullish daily RSI, with eyes on 61.8% Fibo resistance at $5,141.

Ethereum: Whales buy the dip amid rising short bets

Following one of Ethereum's largest weekly drawdowns, whales are slowly returning to action alongside a drop in retail selling pressure. After slightly selling into the decline at the start of the month, whales or wallets with a balance of 10K-100K ETH began buying the dip last Wednesday as prices crashed further.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.