EURUSD, “Euro vs US Dollar”

After expanding the range down and up to 1.2003 and 1.2042 respectively, EURUSD is still consolidating around 1.2025. If later the price breaks this range to the upside, the market may resume growing with the target at 1.2086; if to the downside – start a new decline to update 1.2000 and then form one more ascending wave to reach the above-mentioned target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still falling towards 1.3590 and may later consolidate there. After that, the instrument may break the range to the upside and form one more ascending wave with the target at 1.3750.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the ascending wave 76.22. Today, the pair may start another decline to break 75.60 and continue trading downwards with the target at 74.94.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still growing towards 105.20. After that, the instrument may form a new descending structure to break 104.00 and then continue falling with the target at 103.33.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the ascending wave at 0.9000; right now, it is forming a new consolidation range around this level. Today, the pair may break the range to the downside and resume trading upwards with the first target at 0.8920.

AUDUSD, “Australian Dollar vs US Dollar”

After returning to 0.7626, AUDUSD is consolidating around this level. Possibly, the pair may break the range to the downside and move downwards to reach 0.7552. After that, the instrument may start another growth with the target at 0.7700.

BRENT

Brent is still growing. Possibly, today the asset may reach 59.20 and then consolidate there. After that, the instrument may break the range to the downside and correct towards 57.30. Later, the market may form one more ascending structure with the target at 59.69.

GOLD

Gold is still forming the descending structure with the target at 1817.11. After that, the instrument may resume trading upwards to reach 1847.00..

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is growing to reach 38800.00. Later, the market may resume trading downwards with the target at 31700.00.

S&P 500

The S&P index is consolidating around 3821.7. If later the price breaks this range to the upside, the market may resume growing to reach 3917.0 and then start a new correction to return to 3821.7; if to the downside – correct towards 3800.0 and then resume growing with the target at 3900.0.

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing to reach the resistance at 8/8. A breakout of the latter level will result in a further uptrend towards +1/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall to reach the support at 5/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 0/8 and then continue falling to reach the support at -1/8. However, this scenario may no longer be valid if the price breaks the resistance at 1/8 to the upside. After that, the instrument may continue growing towards 2/8.

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

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the metal is still trading downwards. Right now, after forming several reversal patterns, such as Shooting Star, close to the horizontal resistance level, XAUUSD is reversing and may resume falling towards the support area. In this case, the downside target will be at 1800.00. At the same time, an opposite scenario implies that the price may continue its growth towards 1874.00 before falling to reach the support area.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the pair is still moving upwards. Right now, after forming several reversal patterns, such as Hammer, close to the support level, NZDUSD is reversing. Later, the asset may grow and reach the resistance area at 0.7275. However, an alternative scenario implies that the price may continue falling towards 0.7150 before resuming the ascending impulse.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the downtrend continues. Right now, after forming a Hanging Man pattern not far from the resistance area, GBPUSD is reversing. In this case, the downside target is the support level at 1.3530. After that, the instrument may correct to the upside from the support area and then resume moving downwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 1.3712 before resuming its decline.

EURUSD remains under pressure due to complications in the Euro Area.

The major currency pair remains weak; it is moving downwards on Thursday morning. The current quote for the instrument is 1.2010.

Market players continue monitoring different forecasts for the GDP growth rate in both the USA and Europe, and the Euro Area is quite behind so far. After Germany published its GDP forecasts last week, which were revised downwards, investors are paying a lot of attention to any statistics from this country and projecting them onto the entire Euro Area. There is barely anything positive.

Yesterday, Germany reported on the Services PMI, which showed 46.7 points in January after being 46.8 points the month before. The same indicator for the Euro Area rose to 45.5 points after being 45.0 points over the same period of time.

The preliminary report on inflation in the Euro Area showed 0.9% y/y in January after being 0.3% y/y in December and against the expected reading of .06% y/y. The Core CPI added even more, 1.4% y/y, against market expectations of 0.9% y/y.

The latest statistics on the US labor market have been positive so far. The January ADP report showed 174K after being -78K in the previous month and against the expected reading of 48K.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after finishing the rising wave, AUDUSD is correcting to the downside and has already transformed the Flag-shaped channel into a proper bearish wave, just as expected; it has already reached 23.6% fibo. Later, it may continue towards 38.2% and 50.0% fibo at 0.7503 and 0.7405 respectively. The resistance is the high at 0.7820.

The H1 chart shows that the pair is forming a local pullback, which has already reached 23.6% fibo and may later continue towards 38.2%, 50.0%, and 61.8% fibo at 0.7662, 0.8692, and 0.7723 respectively. On the other hand, a breakout of the low at 0.7564 may result in a further mid-term correction.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is still forming a correctional uptrend after a convergence on MACD. The first wave is heading towards 23.6% fibo at 1.2985, while the next ones may reach 38.2% and 50.0% fibo at 1.3228 and 1.3426 respectively. The support is the low at 1.2589.

The H1 chart shows a correction in the form of a Triangle pattern. The first descending wave has already reached 50.0% fibo at 1.2735. Later, the pair may resume growing towards the high at 1.2881.

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.2011 and then breaking 1.2041 to the upside, EURUSD is expected to 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 1.2077. After that, the instrument may start another correction to return to 1.2041.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending structure at 1.3611 along with the correction towards 1.3666, GBPUSD is expected to fall and reach 1.3587. After that, the instrument may form one more ascending wave with the target at 1.3700.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating above 75.25 Possibly, the pair may start another growth towards 76.22. Later, the market may form a new descending structure to break 75.00 and continue trading downwards with the short-term target at 73.77.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating above 104.80. Possibly, the pair may break the range to the downside and correct towards 104.26. After that, the instrument may form one more ascending structure to reach 105.20 and then resume falling with the target at 103.33.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming a new consolidation range around 0.8966. Today, the pair may grow towards 0.8994 and then start a new correction to reach 0.8920. Later, the market may resume trading upwards with the target at 0.9000.

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.7626 and finishing the descending structure at 0.7565, AUDUSD is moving upwards to return to 0.7626 and test it from below. After that, the instrument may start another decline with the target at 0.7552.

BRENT

Brent is still growing. Possibly, today the asset may reach 58.00 and then consolidate there. After that, the instrument may break the range to the downside and correct towards 56.30. Later, the market may form one more ascending structure with the target at 58.25.

XAUUSD, “Gold vs US Dollar”

Gold has finished the descending structure with the short-term target at 1830.00. Possibly, today the metal may start a new growth to test 1851.00 from below and then resume trading downwards to reach 1827.00.

BTCUSD, “Bitcoin vs US Dollar”

After completing the ascending structure at 36400.00, BTCUSD is expected to resume falling to break 31700.00. Later, the market may continue trading downwards with the target at 26500.00. However, if the price breaks 36500.00 to the upside and forms a continuation pattern, the instrument may start another growth to reach 40400.00.

S&P 500

After reaching 3822.2, the S&P index is consolidating there. If later the price breaks this range to the upside, the market may resume growing to reach 3940.0; if to the downside – start a new decline with the target at 3609.0.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving above the 200-day Moving Average, thus indicating an ascending tendency. However, right now, the asset is rebounding from 5/8. In this case, the price is expected to correct to break the closest support at 4/8 and then continue falling towards the next support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing to reach the resistance at 6/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is moving between 1/8 and 2/8. Right now, the asset is rebounding from 1/8. In this case, the price is expected to move upwards to break the closest resistance at 2/8 and then continue growing towards the next one at 3/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may reverse and return to 0/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the descending tendency continues. Right now, after forming several reversal patterns, such as Harami, close to the support level, EURUSD may reverse and start a new correction. In this case, the correctional target may be at 1.2100. After that, the pair may rebound from the resistance level and resume trading downwards to reach the channel’s downside border. However, an alternative scenario implies that the price may fall to reach 1.1950 without testing 1.2100.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after rebounding from the channel’s downside border, USDJPY has formed several reversal patterns, such as Shooting Star, not far from the resistance area. Judging by the previous movement, one may assume that the asset may reverse in the form of a slight pullback and then resume trading upwards. In this case, the upside target is the resistance area at 105.45. After completing another correction, the price may resume the ascending dynamics. At the same time, an opposite scenario implies that the price may continue its decline to return to 104.50 before resuming its ascending movement.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after forming several reversal patterns, such as Hammer, not far from the support level, EURGBP is reversing and may start another pullback. In this case, the correctional target may be the resistance area at 0.8900. However, judging by previous movements, the pair may yet continue its decline to reach 0.8770 without reversing and correcting.

ETHUSD, “Ethereum vs US Dollar”

ETHUSD is trading at 1547.48; 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 1470.25 and then resume moving upwards to reach 1765.00. Another signal in favor of a further uptrend is a rebound from the upside 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 1225.00. In this case, the pair may continue falling towards 1125.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2786; 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 1.2765 and then resume moving upwards to reach 1.2945. Another signal in favor of a further uptrend will be a rebound from the downside border of a Triangle pattern. 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. To confirm further growth, the asset must break the pattern’s upside border and fix above 1.2875.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2041; 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 1.2055 and then resume moving downwards to reach 1.1945. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2115. In this case, the pair may continue growing towards 1.2205.