EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.2060 and then forming a new consolidation range around this level, EURUSD has broken it to the upside and may continue growing to reach 1.2100. After that, the instrument may fall to return to 1.2060, thus forming a wider consolidation range around this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1.2010; if to the upside – start another growth with the target at 1.2200.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still growing towards 1.3995. Later, the market may start a new correction with the target at 1.3850.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.70. Possibly, today the pair may expand the range up to 74.22 and then fall to break 73.70. After that, the instrument may continue trading downwards with the target at 72.72. However, if the price breaks 74.30 to the upside, the market may continue the correction to test 74.64 from below and then start a new decline towards the above-mentioned target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 105.74; right now, it is still falling with the short-term target at 105.40. Later, the market may form one more ascending structure to test 105.70 from below and then resume trading downwards to reach 105.30.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending impulse at 0.8966, USDCHF is forming a narrow consolidation range around this level. If later the price breaks this range to the downside, the market may start a new decline towards 0.8937; if to the upside – resume trading upwards with the target at 0.9004.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7750. without any particular direction. Possibly, the pair may break grow towards 0.7810 and then resume trading downwards to reach 0.7676.

BRENT

Brent is still consolidating around 63.11; it has expanded the range down to 61.50. Today, the asset may grow to break 63.11 and then continue trading upwards to reach 65.00. Later, the market may form a new descending structure with the target at 60.70.

XAUUSD, “Gold vs US Dollar”

After breaking 1770.00 to the downside and reaching 1760.50, Gold is expected to return to 1770.00 and then form a new descending wave towards 1750.00. After that, the instrument may start another correction with the target at 1770.00.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 51660.00. Possibly, the asset may fall towards 50300.00 and then grow to reach 52900.00. Later, the market may form a new descending structure with the first target at 48500.00.

S&P 500

The S&P index is still consolidating around 3900.5. Today, the asset may fall to reach 3852.0 and then grow towards to test 3900.0 from below. After that, the instrument may resume trading downwards with the first target at 3830.0.

BRENT

In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the pair is expected to break 8/8 and continue growing to reach the resistance at +1/8. However, this scenario may no longer be valid if the price breaks the support at 7/8 to the downside again. After that, the instrument may continue falling towards 6/8.

As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may continue the ascending tendency only after breaking 8/8 in the H4 chart.

S&P 500

In the H4, the S&P Index is also trading above the 200-day Moving Average. In this case, a breakout of 8/8 may lead to a further uptrend towards the resistance at +1/8. However, this scenario may no longer be valid if the price break 7/8 to the downside. After that, the instrument may correct to the downside and reach the support at 6/8.

As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may continue growing only after a breakout of 8/8 in the H4 chart.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after testing the support area and forming several reversal patterns there, including Hammer, EURUSD may continue reversing. In this case, the upside target may be at 1.2190. However, an alternative scenario implies that the price may correct to reach 1.2050 before testing 1.2190.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has formed a Shooting Star reversal pattern while testing the resistance level. Judging by the previous movements, one may assume that the asset may reverse and start a new pullback. In this case, the correctional target is the support area at 105.30. after that, the instrument may rebound from this level and resume the ascending tendency. At the same time, an opposite scenario implies that the price may continue its growth to reach 106.30 without testing the support level.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after forming an Inverted Hammer reversal pattern not far from another support level, EURGBP may reverse and form a slight pullback. In this case, the correctional target is the resistance area at 0.8700. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.8615 without correcting towards the resistance level.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 51659.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 50065.00 and then resume moving upwards to reach 55005.00. 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 42305.00. In this case, the pair may continue falling towards 37205.00. To confirm further growth, the asset must break the descending channel’s upside border and fix above 52305.00.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3980; 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 1.3965 and then resume moving upwards to reach 1.4095. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3875. In this case, the pair may continue falling towards 1.3795. To confirm further growth, the asset must break the pattern’s upside border and fix above 1.4005.

BRENT

Brent is trading at 62.60; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 61.45 and then resume moving upwards to reach 67.45. 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 59.05. In this case, the pair may continue falling towards 57.55.

EURUSD managed to recover after plunging earlier; the asset remains volatile at the end of the week.

On Friday morning, the major currency pair is looking rather neutral despite its volatility, which makes market players nervous. The current quote for the instrument is 1.2095.

The “greenback” owes its strength to the rise of US bonds on the debt market.

The weekly Unemployment Claims data wasn’t good: the indicator showed 861K after being 848K the week before and against the expected reading of 775K. The labor market remains rather complicated and the numbers confirm it.

The January readings on the real estate market also were rather mixed. For example, the Building Permits showed 1.88M after being 1.7M the month before, while the Housing Starts reported at 1.58M after being 1.68M in December. It means that construction companies are still not quite sure about the demand in the future despite low interest rates.

There will be a lot of interesting statistics today. Both the Euro Area and the USA are scheduled to report on the Manufacturing and Services PMIs for February, which are expected to improve a little bit. Later, the USA will publish the Existing Home Sales data, which may reduce a bit.

In the evening, the US Fed will release its Monetary Policy Report that is expected to contain information about additional stimulus measures to support the American economy, as well as the whole economic situation outlook.

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, BTCUSD continues updating its all-time highs without even thinking of starting any pullbacks. After breaking the post-correctional extension area between 138.2% and 161.8% fibo at 47080.00 and 50213.00 respectively with confidence, the asset has fixed above it. The next upside target is 261.8% fibo at 63300.00. The support is at 42017.50. At the same time, there is a divergence on MACD, which may hint at a quick and deep pullback.

The H1 chart shows a local divergence but the pair may yet reach 55000.00 in the nearest future. however, if the price fails to break the high at 52645.02, the asset may start a new pullback towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 47130.00, 43700.00, 40950.00, and 38190.00 respectively.

ETHUSD, “Ethereum vs. US Dollar”

The H4 chart shows a stable uptrend, which, after breaking the fractal high at 1421.10, is heading towards the post-correctional extension area between 138.2% and 161.8% fibo at 1930.80 and 2247.65 respectively. However, there is a divergence on MACD, which may hint at a new correctional downtrend.

As we can see in the H1 chart, the pair is about to test the post-correctional extension area between 138.2% and 161.8% fibo at 1951.50 and 2000.16 respectively. The local support is the fractal low at 1666.75.

AUDUSD is trying to recover on Thursday but the situation is rather complicated.

The Australian Dollar is attempting to rise against the USD on Thursday morning but the market situation is not so simple. The current quote for the instrument is 0.7751.

The statistics published in the morning showed that the Unemployment Rate in Australia dropped to 6.4% in January after being 6.6% the month before. The indicator was expected to fall but the actual reading is still better than expected.

The Employment Change in the country in January was 29.1K, which is worse than both expected and previous readings of 30.2K and 50.0K respectively. the components of the report show that the Full-Time Employment went up, while the Part-Time Employment reduced. The Participation Rate also decrease.

The employment situation early in the year is rather complicated but the overall tendency remains positive, that’s why one shouldn’t draw far-reaching conclusions.

Yesterday, one of the RBA representatives said that the AUD rate would have been 5% higher had it not been for stimulus measures taken by the government. Needless to say that the regulator’s “soft” monetary policy has an influence on the national currency. According to the RBA, the Aussie would be steadily rising amid growing commodity prices but the current fiscal policy holds it back. The soft monetary policy is playing an important role in the recovery of the Australian economy and the RBA will continue sticking to this plan.

It was said on several occasions that the regulator wasn’t happy with the AUD rate. The Aussie is moving close to the upside border of the long-term range against the USD and the Australian regulator doesn’t like it. However, the RBA has no real tools for controlling the rate, that’s why all it can do is to intervene verbally.