EURUSD, “Euro vs US Dollar”

After breaking 1.2093 to the downside, EURUSD is falling towards 1.2040. Possibly, today the pair may reach this level and then form a new consolidation range there. Later, the market may break the range to the upside and start a new growth with the target at 1.2200.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the ascending structure at 1.3750 along with the correction towards 1.3674, GBPUSD is consolidating around the latter level. Today, the pair may break this range to the downside and resume trading downwards with the target at 1.3587.

USDRUB, “US Dollar vs Russian Ruble”

After completing the ascending correction at 76.00, USDRUB is falling towards 75.03. Later, the market may break the latter level and continue trading downwards with the short-term target at 73.95.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the short-term upside target at 104.88; right now, it is consolidating around this level. Possibly, the pair may expand the range up to 105.05 and then start another correction towards 104.30. After that, the instrument may form one more ascending structure with the target at 105.20.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.8920 and then forming a new consolidation range around this level, USDCHF has broken it to the upside to reach 0.8971. Today, the pair may start a new correction to return to 0.8920 and then resume trading upwards with the target at 0.9000.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7625 without any particular direction. Possibly, the pair may trade downwards to reach 0.7550 and then start another growth with the target at 0.7700.

BRENT

After completing the ascending structure at 56.30 and breaking it to the upside, Brent is still growing with the target at 57.90. Possibly, today the asset may reach 57.47 and then correct to test 56.30 from above. After that, the instrument may form one more ascending structure towards the above-mentioned target.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1851.30 without any particular direction. Possibly, the metal may break the range to the downside and resume trading downwards with the target at 1827.00. Later, the market may form one more ascending structure to reach 1851.40.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 34000.00, Later, the market may break this range to the downside to reach 26600.00 and then resume growing with the target at 40400.00.

S&P 500

The S&P index is consolidating around 3734.1. Possibly, the asset may expand the range up to 3832.0. After that, the instrument may start a new decline to break 3700.0 and then continue falling with the target at 3567.4.

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD has broken the 200-day Moving Average and 5/8. In this case, the price is expected to continue falling to reach the closest support at 4/8. However, this scenario may be canceled if the price breaks 5/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 6/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart, NZDUSD is moving above the 200-day Moving Average, thus indicating an ascending tendency. downwards. In this case, the price is expected to break 6/8 and then continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. In this case, the instrument may continue falling to reach the support at 4/8.

In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue growing.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after forming an Engulfing reversal pattern not far from the support level, USDCAD may reverse in the form of another rising wave towards 1.2910. Later, the asset may continue growing. However, an alternative scenario implies a further pullback towards 1.2750 before the asset resumes growing.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is still forming the descending impulse. Right now, after forming several reversal patterns, such as Hammer, not far from the support area, the pair may reverse and resume growing to reach the resistance area at 0.7690. At the same time, an opposite scenario says that the price may fall to return to 0.7580 without testing the resistance area.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the uptrend continues. At the moment, after forming several reversal patterns, such as Hanging Man, not far from the resistance area, USDCHF is correcting. Later, the asset may complete the correction and resume the ascending tendency. The correctional target may be the support area at 0.8880. Still, there might be an alternative scenario, according to which the asset may start a new growth towards 0.9000 without falling and testing the support area.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2069; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2105 and then resume moving downwards to reach 1.1945. Another signal in favor of a further downtrend will be a rebound from the downside border of the Triangle pattern, which bears managed to break downwards. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2155. In this case, the pair may continue growing towards 1.2245.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2829; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2805 and then resume moving upwards to reach 1.2965. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2675. In this case, the pair may continue falling towards 1.2565.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7612; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7640 and then resume moving downwards to reach 0.7510. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7775. In this case, the pair may continue growing towards 0.7865.

AUDUSD continues falling after the RBA’s February meeting.

The Australian Dollar remains under pressure against the USD on Tuesday. The current quote for the instrument is 0.7627.

Earlier this morning, the Reserve Bank of Australia had its first meeting this year and kept the benchmark rate unchanged at 0.10%, just as expected. Other parameters of the regulator’s monetary policy also weren’t expected to change but the RBA decided the other way. This time, the central bank made a decision to expand the bond-buying program by another A$100 billion (~$76.3 billion).

This is a pretty significant expansion to the existing program, which is also worth A$100 billion will expire in March 2021. It appears that the stimulus program will continue in order to, according to the RBA, prevent the country’s interest rates from growing. On average, the regulator will buy bonds for A$5 billion a week, thus providing significant support to the Australian economy

In the comments, the RBA said that the labor market was more or less stable, the number of jobs went up while the unemployment decreased to 6.6%. At the same time, the retail sales report showed some revival, which is also a good sign. These were exactly the comments investors were waiting for but they didn’t help the Aussie. The program expansion puts pressure on the national currency although its effect is nothing but positive.

The RBA Governor will speak before the end of this week – he is expected to talk about the economic outlook and other aspects, that’s why the volatility period of the Aussie is “far from done”.

EURUSD plunged yesterday but market players are in no hurry to sell today.

The major currency pair stopped falling on Tuesday morning the way it did yesterday; investors are waiting and watching. The current quote for the instrument is 1.2070.

Yesterday, there were a lot of talks “on the sidelines” that the USA got an advantage in helping its economy to recover faster due to the fast-paced vaccination. It supported the USD and put additional pressure on the Yen and the Euro.

Like it was said earlier, all statistics from Germany will hit the stage soon and the data published yesterday was no exception: the Retail Sales showed -9.6% m/m in December after being 1.1% m/m in November and against the expected reading of -2.0% m/m. The key reason for this decline is quarantine restrictions and lockdown, which were introduced to control the pandemic. Consumer interest and, as a consequence, retail sales plummeted. Most likely, the January data will be pretty much the same.

For the Euro, any negative news from Germany is now a clear reason for plunging.

Later today, investors should pay attention to the Euro Area GDP report for the fourth quarter of 2020, which is expected to show -0.9% q/q after being 12.5% q/q the quarter before. The stronger the reading, the more chances the Euro has to recover.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, a local convergence on MACD made the pair corrected and then started consolidating. This consolidation may warn about a new impulse movement. If the price breaks this consolidation channel to the upside, the asset may form a proper rising wave towards 76.0% fibo at 2000.00. Another scenario implies that the asset may break the channel downwards to reach the low at 1764.36, a breakout of which will lead to a further long-term downtrend towards 38.2% at 1725.37.

The H1 chart shows a more detailed structure of the consolidation range. At the moment, the price is moving between 23.6% and 38.2% fibo. In the short-term, the asset may continue growing towards 50.0% and 61.8% fibo at 1880.55 and 1899.10 respectively. the local support is the low at 1801.79.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the daily chart, after testing the post-correctional extension area between 138.2% and 161.8% fibo at 0.8886 and 0.8816 respectively, USDCHF is forming a new rising wave that may transform into a proper uptrend. In the mid-term, this growth may be heading towards 23.6%, 38.2%, and 50.0% fibo at 0.9106, 0.9322, and 0.9495 respectively.

The H1 chart shows a more detailed structure of the correctional trend. The asset is approaching 50.0% fibo at 0.8975 and may later continue growing 61.8% and 76.0% fibo at 0.9026 and 0.9087 respectively. The support is the low at 0.8757.