RBFX Support

USDCHF is poised for growth; the franc is retreating rapidly The USDCHF pair has been rising, with this trend persisting for the third consecutive day due to the strength of the US dollar. Find out more in our analysis dated 30 July 2024. The USDCHF pair has risen for three consecutive days and is now approaching 0.8866. This movement follows a fairly noticeable decline in the pair in July. The US dollar is clearly rebounding, supported by forecasts that the US Federal Reserve will keep the interest rate unchanged at today’s meeting. The rate is expected to remain within the 5.25-5.50% range. Investors are primarily anticipating signals regarding the next meeting scheduled for September. The USDCHF pair is forced to react to external factors. However, Switzerland’s domestic statistics are not robust enough to capture investor attention. Today, Switzerland will release the report on the KOF leading indicators index for July, which is expected to decrease slightly to 102.6 points from the previous 102.7. USDCHF technical analysis On the H4 chart, the USDCHF pair continues its correction towards 0.8888. Today, 30 July 2024, a rise to 0.8870 is expected, followed by a decline to 0.8833 (testing from above). Subsequently, the USDCHF rate could rise to 0.8888, with the correction potentially extending to 0.8900. Once the correction is complete, a new decline wave could begin, aiming for 0.8761 as the wave’s main target. The USDCHF pair has been rising for the third consecutive day. Technical indicators for today’s USDCHF forecast suggest a further correction towards 0.8888, followed by a decline to 0.8761. Read more - USDCHF Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

EURUSD may decline further The EURUSD rate corrected on Tuesday following an aggressive decline a day earlier. Why does the market remain cautious? Find out more in the analysis dated 30 July 2024. EURUSD trading key points The market awaits the Federal Reserve meeting on Wednesday for potential interest rate cut signals Today, traders will focus on the June job openings and July Consumer Confidence Index EURUSD forecast for 30 July 2024: 1.0800 and 1.0775 Fundamental analysis The EURUSD pair remains under pressure, trading around 1.0815. The market is awaiting the Federal Reserve meeting on Wednesday, following which the base rate will likely remain unchanged but may provide hints about a rate reduction in September. Traders believe that if no clear signal is given about a rate cut, this may help strengthen the US dollar. Despite higher-than-expected US GDP growth rates in Q2, the likelihood of monetary policy easing remains high. Although inflation has slowed, it continues to be the regulator’s concern. Today, investors will focus on June’s job openings data and July’s Consumer Confidence Index. The long-awaited July employment report will be released on Friday, significantly impacting traders’ expectations about the Federal Reserve’s future policy. Overall, market participants are not inclined to take active action as they await the central bank’s dovish decision. In this situation, the EURUSD rate may decline further. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

EURUSD continues to rise: risk appetite supports buyers The EURUSD pair is rising. The week begins quietly, with the US Federal Reserve meeting lying ahead. Find out more in our forecast dated 29 July 2024. The EURUSD pair climbs to 1.0859 on Monday. The focus will be on the US Federal Reserve meeting this week. The Fed must maintain all the fundamentals for a September interest rate cut. The core Personal Consumption Expenditures (core PCE) price index rose by 0.1% m/m in June after stabilising in May. The indicator increased by 2.5% year-over-year compared to the May reading of 2.6%. All this aligned with expectations. However, a further decline would bolster confidence that the Fed will reduce the rate quickly. The Federal Reserve uses this inflation measure to make its monetary decisions. EURUSD technical analysis On the EURUSD H4 chart, a consolidation range continues to develop around 1.0850 with no clear trend. A rise to 1.0871 remains relevant today, 29 July 2024. Subsequently, the price could fall to 1.0833 and then rise to 1.0874. A price surge to 1.0886 is also possible. This entire growth structure is viewed as a correction of the previous decline wave. Once it is complete, a new decline wave is expected to start, aiming for 1.0820 and potentially continuing to the local targets of 1.0777 and 1.0760. Although the EURUSD pair maintained its recovery momentum, it is temporary. The EURUSD forecast for today aligns with technical indicators, suggesting a further corrective wave towards (at least) 1.0874. Once completed, the EURUSD rate is expected to decline to the targets of 1.0818, 1.0777, and 1.0760. Read more - EURUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

USDJPY falls: the market awaits BoJ interest rate hike The USDJPY rate is declining after rebounding from the 154.65 resistance level. Find out more about market expectations ahead of the BoJ and Federal Reserve meetings in our analysis dated 29 July 2024. USDJPY trading key points The BoJ is expected to raise the interest rate by 10 basis points The market awaits Federal Reserve interest rate cut signals for September USDJPY forecast for 29 July 2024: 151.31, 154.50, and 157.10 Fundamental analysis The Japanese yen is strengthening today, bolstered by market expectations of a Bank of Japan interest rate hike. Investors hope the central bank will take action to curb inflation. Markets forecast that the BoJ will raise the interest rate by 10 basis points to 0.1% at the upcoming meeting. According to analysts, if the central bank does not increase rates, it will be forced to resort to a more aggressive quantitative tightening policy to prevent sharp fluctuations in the USDJPY rate following the announcement of the decision. Both the BoJ and the US Federal Reserve meetings are scheduled for Wednesday. The decisions of these central banks will significantly impact the movements of the USDJPY currency pair. While investors expect the Bank of Japan to raise the interest rate, they are also looking for signals from the Federal Reserve about a potential rate cut in September. Traders note that the USDJPY pair was overvalued, and the current dynamics do not favour the US dollar. Any signs of the Federal Reserve easing monetary policy may significantly push down the dollar-yen rate. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

AUDUSD sell-offs have ended: investors await inflation data The AUDUSD pair halted its decline. The AUD rate experienced its worst week since November. For a detailed analysis, please refer to our forecast dated 26 July 2024. The AUDUSD pair has stabilised after a massive decline, hovering around 0.6552. The fall has been observed for nine consecutive trading sessions. This week will be the worst for the AUD since November last year, with losses of about 2%. The decline of the Australian dollar was driven by a global sell-off of risky assets, the unwinding of carry trades against the yen, and weak economic data from China, Australia’s major trading partner. Next week, Australia will release Q2 2024 inflation data, which will likely provide investors with more insight into future monetary policy actions of the Reserve Bank of Australia. AUDUSD technical analysis On the AUDUSD H4 chart, a consolidation range has formed around 0.6610. The AUDUSD rate, breaking below the range, reached the wave’s local target of 0.6512. A correction is expected today, 26 July 2024, aiming for 0.6610 (testing from below) and followed by another decline wave towards 0.6468. Once the price reaches this level, the AUDUSD pair is expected to see a new growth structure or a consolidation range, potentially continuing to 0.6420. The AUDUSD pair appears weak following a wave of sell-offs. The indicator-based AUDUSD technical analysis suggests a corrective wave towards 0.6610 and a new decline wave towards the 0.6468 and 0.6420 targets. Read more - AUDUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

EURUSD: investors await inflation data The EURUSD rate is slightly rising after rebounding from the 1.0830 support level. Will the US dollar strengthen? Find out in our analysis dated 26 July 2024. EURUSD trading key points US GDP rose by 2.8% year-over-year in Q2 Germany’s Ifo Business Climate Index fell to 87 points Traders focus on US inflation data EURUSD forecast for 26 July 2024: 1.0874, 1.0818, and 1.0777 Fundamental analysis The forecast for 26 July 2024 shows that the US economy continues to grow in Q2 2024, albeit at a slowing pace. According to preliminary data from the US Department of Commerce, GDP increased by 2.8% year-over-year, slightly exceeding analysts’ expectations. However, this is the lowest reading in the past several quarters, indicating US economic slowdown amid tightening monetary policy. Markets continue to price in a 100% chance of a Federal Reserve cut in September, with expectations for at least one more cut by the end of the year. Meanwhile, Germany’s Ifo Business Climate Index continues to decline, reaching 87 points in July, the lowest reading since February 2024. This reflects rising concerns of German businesses about the country’s economic outlook and exerts pressure on the euro rate. Today, traders focus on the PCE price index report, a key inflation gauge for the Federal Reserve. Previous data showed that inflation eased in Q2 but remained elevated. The overall PCE index rose by 2.6%, while the core index, which reflects steady inflation trends, increased by 2.9%. This data indicates persisting inflationary pressure in the economy and confirms traders’ expectations of a Federal Reserve interest rate cut in September. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

USDCAD rises following Bank of Canada interest rate cut The USDCAD pair continues to rise following a reduction in Canadian interest rates. Positive US data may cause the Canadian dollar to lose ground further. Find out more in our analysis dated 25 July 2024. The Canadian dollar is losing ground against the US dollar for the second consecutive week. The Bank of Canada lowered the interest rate by 0.25% to 4.5%. Consequently, the USDCAD rate has risen further, approaching April’s highs. This week’s forecast of economic indicators is not favourable for the Canadian dollar. Average weekly earnings are expected to decline further, following decreases in the previous two reports. The decline in earnings could be attributed to rising unemployment, a negative economic factor. Previous data show a decrease in manufacturing sales to 0.4%. Growth is unlikely in the current period, with a decline appearing more probable. US initial jobless claims are projected to reach 237,000, lower than the previous figure. This suggests a decrease in unemployment, which could positively impact the US dollar and drive the USDCAD rate higher. USDCAD technical analysis The forecast for 25 July 2024 shows that the USDCAD pair has completed a decline wave, reaching 1.3740. The market has formed a consolidation range around this level. With an upward breakout, the wave could extend to the local target of 1.3825. Once the price reaches this target, a correction is possible, aiming for 1.3740 (testing from above). Subsequently, a new growth wave could start, targeting 1.3892. The interest rate cut in Canada and technical analysis for today’s USDCAD forecast suggest a potential uptrend towards 1.3825, which could extend to 1.3892. Read more - USDCAD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

EURUSD declines: the market favours the US dollar The EURUSD pair continues to decline. Investors are awaiting the Federal Reserve’s decision on monetary policy easing. For a detailed analysis, please refer to our forecast dated 25 July 2024. EURUSD trading key points The EURUSD pair is falling due to the strength of the US dollar The Federal Reserve is expected to provide clarity on its intentions for September EURUSD forecast for 25 July 2024: 1.0822 and 1.0777 Fundamental analysis Yesterday’s US PMI data was mixed. Markit’s preliminary services PMI for July increased to 56.0 points from 55.3, while the manufacturing PMI decreased to 49.5 points from 51.6. Key news this week for EURUSD includes the upcoming release of the US Q2 2024 GDP estimate this evening. The core Personal Consumption Expenditures (PCE) price index will also be published on Friday. This is one of the most crucial reports for the Federal Reserve, based on which the regulator assesses the inflationary environment. The US economy is expected to have expanded by 2.0% in April-June compared to only 1.4% in Q1. The anticipated Federal Reserve meeting is scheduled for next week. Few expect the Fed to make significant decisions at this meeting; all predictions are for September. However, the Federal Reserve’s remarks regarding its September plans could be more detailed in this case. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

GBPUSD may weaken by year-end amid the BoE policy The GBPUSD is falling for the second consecutive session. Read in the analysis for 24 July 2024 how the upcoming Bank of England’s decision may affect the pound. UK retail sales unexpectedly decreased by 1.2% in June, significantly exceeding the projected 0.4% decline. Combined with slowing wage growth and inflation reaching the Bank of England’s 2.0% target, this drop increases the likelihood of an interest rate cut in August. Expectations of such action already exert pressure on the GBPUSD rate as an interest rate cut typically weakens the national currency. Unexpectedly robust service inflation data have supported the sterling pound rate for some time, forcing the Bank of England to postpone an interest rate cut, making UK bonds more appealing to investors. However, Chris Turner, global head of markets at ING, believes the pound could weaken by year-end since the BoE will likely lower the rate. Analysts predict that the Bank of England may have three interest rate cuts this year, but only if the UK’s economic situation is favourable. The first decision is expected to be announced at a Monetary Policy Committee meeting on 1 August 2024. According to traders, easing the monetary policy will push down the pound sterling. GBPUSD technical analysis Analysis for 24 July 2024 shows that the GBPUSD pair is forming a consolidation range around 1.2911, which is expected to extend down to 1.2879 today. Subsequently, the price could rise to 1.2911 (testing from below) before the decline wave likely continues to 1.2777, representing the first target. Today’s GBPUSD forecast shows that the likelihood of a decline in the British pound persists due to the Bank of England’s potential monetary policy easing measures. Technical indicators suggest a fall in the GBPUSD rate to the 1.2879, 1.2850, and 1.2777 targets. Read more - GBPUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

Brent declined to 80.00, with the market focusing on EIA data today Brent crude oil prices are declining for the fifth consecutive trading session. Read about it in the analysis for 24 July 2024. Brent trading key points The market awaits EIA data: inventories are expected to have increased by 0.70 million barrels Brent forecast for 24 July 2024: 82.80 and 76/80 Fundamental analysis Brent continues to fall as part of a downward correction, reaching 80.00. Today, market participants await the release of US oil stock data from the Energy Information Administration (EIA) during the American session. Inventories are projected to have risen by 0.70 million barrels. A significant divergence between the actual data and the forecast may drive further movement of Brent quotes. US oil stock data from the American Petroleum Institute (API) was released yesterday. According to the statistics, US hydrocarbon reserves decreased by 3.90 million barrels last week, while the forecast suggested a decline of only 2.47 million. As a result, Brent prices received support and, halting their decline, stabilised around 80.00-81.00. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

Gold (XAUUSD) is correcting after reaching a new all-time high Gold prices are declining after reaching an all-time high of 2,483 USD per troy ounce. Gold failed to hold near the all-time high of 2,483 USD reached last week. Buyers appear to have decided to lock in profits, causing XAUUSD quotes to reverse direction and fall below the 2,400 level. The decline in gold prices is driven by the current strengthening of the US dollar against major currencies. An escalation of geopolitical tensions in the Middle East may provide support for gold. XAUUSD technical analysis The XAUUSD H4 chart shows an ongoing downward correction from the historical maximum of 2,483 USD. The quotes are currently hovering around 2,388, which coincides with the 50.0% Fibonacci retracement level from the previous upward movement. If bears gain a foothold below 2,388, XAUUSD quotes can be expected to fall further to the 2,368 support level, which coincides with the 61.8% Fibonacci retracement level. At this level, bulls might attempt a counterattack to reverse the trend upward. Gold is declining in a downward correction after reaching the historical high of 2,483 last week. Bulls may attempt to reverse the price trend upward at 2,368-2,388 support levels. Read more - XAUUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

Positive expectations for the eurozone economy support EURUSD The EURUSD rate slightly rose on Tuesday, 23 July 2024, trading above the key support level of 1.0875. EURUSD trading key points The ECB’s decision to keep interest rates unchanged and Lagarde’s remarks about a “wide open” September meeting continue to support the euro Eurozone, Germany, and France PMIs are expected to improve, and consumer confidence in the eurozone is projected to peak EURUSD price targets: 1.0870, 1.0820, and 1.0777 Fundamental analysis The European Central Bank’s decision to maintain the current monetary policy and Christine Lagarde’s statement that the upcoming verdict on 12 September remains open, continue to bolster the euro. Eurozone, Germany, and France PMI data are expected to show a more substantial decline in manufacturing and further growth in the services sector. Additionally, the consumer confidence level in the eurozone is projected to reach its highest level since February 2022. The GfK consumer climate and Ifo business climate indicators are also expected to improve in Germany. Investors believe that the Federal Reserve will lower interest rates in September and may do so twice by the end of the year amid slowing US inflation. US key economic indicators such as PMI, GDP, and the PCE price index are due this week and may heighten pressure on the US dollar if they are worse than forecasted. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

Trump takes the lead, but the USD remains hesitant: all eyes on politics The EURUSD pair is consolidating. Investors need to assess crucial changes in the US political race. The EURUSD pair stopped at 1.0888 on Monday. The market is extremely cautious as the weekend brought unexpected news that needs to be analysed and weighed. The incumbent US President, Joe Biden Jr., announced his decision to drop out of the 2024 presidential campaign. He supported Vice President Kamala Harris as his replacement. However, it is still unclear whether Harris can gain the required support as the new Democratic nominee. Former US President Donald Trump, the Republican nominee, is far ahead. Although Harris can be a strong politician and a presidential nominee, the question remains whether this is enough to change the results of preliminary surveys. EURUSD technical analysis On the H4 chart, the EURUSD pair has reached the decline wave’s local target of 1.0875. Today, 22 July 2024, a correction was formed, aiming for 1.0902 (testing from below). The decline wave is expected to continue to 1.0860, representing the first estimated target. After reaching this target, the price could rise to 1.0900. Subsequently, another decline wave could develop, aiming for 1.0820 and potentially continuing to 1.0777. The EURUSD pair has become became centre of US political news. Technical indicators suggest a further corrective wave, with a target at 1.0777. Read more - EURUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

JPY is rising amid expectations of BoJ policy tightening The USDJPY rate declines on Monday morning, 22 July 2024, after a two-day growth. The current USDJPY exchange rate is 156.55. USDJPY trading key points Japan’s inflation continues to rise The Bank of Japan is expected to raise interest rates next week USDJPY price targets: 158.28, 154.80, and 154.66 Fundamental analysis The Japanese yen is rising after rebounding from the 157.60 resistance level. Investors expect the BoJ to raise interest rates next week amid rising inflation. Consequently, the USDJPY rate has fallen by more than 2% over the past two weeks. Investors believe the Japanese government is already intervening in the currency market to support the national currency rate. The Bank of Japan’s data shows that the authorities could have purchased about 6 trillion yen a week ago. Although Japan’s inflation remained at 2.8% in June, the core index, excluding food and energy prices, jumped to 2.6%. This data reinforces traders’ view that the BoJ may start tightening monetary policy despite potential risks for the country’s weak economy. The possibility of the yen’s rate rising further in the near term persists. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

AUD falls again, marking the fifth consecutive day of decline The AUDUSD pair continues to lose ground. The market is selling off risky assets. The Australian dollar, in the pair with its US counterpart, has been steadily and uninterruptedly falling for five days. The AUDUSD pair reached 0.6698, the lowest level in the last two weeks. The sell-off is associated with the strengthening of the US dollar. According to recent data, Australia’s unemployment rate rose from 4.0% to 4.1%. At the same time, June’s job growth is notable, indicating heightened tension in the employment sector, which elevates concerns about an interest rate hike by the Reserve Bank of Australia. Investors are now pricing in a 20% possibility of an RBA interest rate hike in August, whereas the figure did not exceed 12% a couple of days ago. AUDUSD technical analysis On the H4 chart, the AUDUSD pair has completed a decline wave, reaching 0.6699. A consolidation range is expected to form above this level today, 19 July 2024. With an upward breakout, a growth wave could start, aiming for 0.6750 and potentially continuing to 0.6811. The Australian dollar came under pressure from the USD and employment market data. Technical analysis for the AUDUSD pair suggests a growth wave to the 0.6750 and 0.6811 targets. Read more - AUDUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

Brent prices fall, driven by a sell-off of risky assets Brent crude oil prices are dropping again. The market has experienced sales growth amid falling prices for risky assets and the US dollar strengthening. Brent trading key points Brent prices are falling due to pressure from the US dollar China’s plenum did not outline measures to support the economy Brent price targets: 85.00, 85.40, 86.90, and 88.00 Fundamental analysis The commodity market was again under pressure, with a barrel of Brent crude oil falling to 84.73 USD on Friday. Investors took a more cautious stance when assessing the global economic outlook, resulting in sales in stock and commodity market sales, which contributed to the growth of the US dollar. Statistics showing stronger-than-expected growth in July’s industrial production and increased jobless claims amid seasonality also bolstered the USD. Commodity goods are generally believed to be less profitable to purchase amid USD growth. Chinese news failed to support the oil sector. China’s third plenum ended yesterday without providing any guidelines on measures to revive the country’s economy. As China is the world’s largest oil consumer, positive signals from this side could support commodity prices. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

GDP stays afloat despite fundamental data A decrease in the number of claims for unemployment benefits and a stable unemployment rate increase the chances of the British pound strengthening. Average earnings in the UK (including May bonuses) decreased by 0.2% from the previous value, in line with the forecast. The UK claimant count change exceeded expectations but was lower than the previous reading. These data did not significantly affect the GBPUSD rate, with the pair continuing to trade around 1.3000. The unemployment level remained flat, aligning with the forecast and having little impact on the price. Data, including US initial jobless claims, is due after the US trading session opens. A preliminary forecast shows an increase to 229,000, which could negatively impact the US dollar. GBPUSD technical analysis Analysis of 18 July 2024 shows that the GBPUSD pair has reached the growth wave’s local target of 1.3040 (adjusted for an extension). A correction towards 1.2945 could start today. Once the correction is complete, the price might rise to 1.2990. Subsequently, a decline wave is expected, aiming for 1.2850 and potentially continuing to 1.2800. Fundamental data and technical indicators suggest a decline in the GBPUSD rate to the 1.2945, 1.2850, and 1.2800 targets. Read more - GBPUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

Gold (XAUUSD) could reach new all-time highs amid US news Gold continues to rise on Thursday, 18 July 2024, offsetting Wednesday’s correction. XAUUSD trading key points The Philadelphia Fed manufacturing index (US): previously at 1.3%, forecasted at 2.7% A speech by US Federal Open Market Committee (FOMC) official Mary C. Daly XAUUSD price targets: 2,434.84, 2,400.00, and 2,386.50 Fundamental analysis This week’s economic data showed a slight increase, helping the precious metal strengthen its position against the US dollar. XAUUSD quotes are maintaining their upward trajectory. US economic data, including the Philadelphia Fed manufacturing index, is scheduled for release today. The indicator is projected to rise to 2.7% but it is difficult to foresee what will come. Weaker-than-expected data may exert pressure on the US dollar and push gold prices further up. A speech by US FOMC official Mary C. Daly last time negatively impacted the US dollar. Investors expect this speech to answer questions about future interest rate changes and inflation growth or slowdown rates. Any response from Mary C. Daly may trigger an immediate market reaction, potentially pushing the XAUUSD to new all-time highs. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

NZD rises amid easing inflation The NZDUSD rate is rising on Wednesday, 17 July 2024, after rebounding from the support level. The price earlier reached a two-month low. New Zealand’s services PMI decreased by 2.4 points to 40.2 in June 2024, reaching the lowest level in 17 months. This is the fourth consecutive decline, indicating a significant slowdown in the services sector. Due to this, the NZDUSD rate reached a two-month low. However, today, investors reacted positively to the news that New Zealand’s annual inflation eased to 3.3% in Q2 from 4.0% in the previous quarter, marking the lowest level in three years. The New Zealand dollar recouped some losses, rising above 0.6081. Despite this data, markets are still pricing in about three interest rate cuts by the end of the year. The RBNZ kept the interest rate at 5.5% last week but hinted at a potential future easing of monetary policy if inflation continues to slow. This increased the chances of an interest rate cut at the August meeting which is currently estimated by markets at 53%. NZDUSD technical analysis On the H4 chart, the NZDUSD pair completed a decline wave, reaching 0.6031. Today, 17 July 2024, a correction towards 0.6098 is expected. Once the correction is complete, a new decline wave could start, aiming for the local target of 0.6022. Subsequently, the price could rise to 0.6064 (testing from below) before falling to 0.5977, the estimated target. Despite growth driven by easing inflation, the New Zealand dollar could weaken due to a significant decline in business activity in the services sector. Technical analysis of the NZDUSD pair suggests that the trend could continue to the 0.6022 and 0.5977 targets. Read more - NZDUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

China’s sluggish domestic demand and economic slowdown jeopardise oil prices Brent crude oil prices fall on Wednesday, 17 July 2024, declining for the fourth consecutive trading session. Brent trading key points Declining demand in China: oil imports decreased to 46.45 million tons in June A slowdown in China’s GDP growth: GDP growth rates in Q2 fell to 4.7% Brent price targets: 85.90 and 87.72 Fundamental analysis Recent data on China’s oil imports and GDP growth rates raised concerns in the global oil market. Oil imports to China, which is the world’s largest consumer of crude hydrocarbons, declined to 46.45 million tons in June, indicating sluggish domestic demand in the country. The slowdown in China’s GDP growth rates to 4.7% in Q2, below the 5.3% recorded in Q1, adds to pessimism. The Chinese economy has traditionally been the driver of global economic activity and fuel demand. The weakening of these indicators could lead to oil oversupply in the market, which will negatively impact the prices. Although the Chinese authorities are taking action to stimulate the economy, it is not clear how quickly these measures will help revive fuel demand. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

USDCHF: second day of growth The USDCHF pair is rising for the second day. Activity in USDCHF is low as the market is keeping an eye on the situation. The instrument appears quite stable now. This is a long-awaited equilibrium point following a marked previous decline. The US dollar is strengthening against the franc amid growing overall market sympathy with the USD. This comes after last weekend’s incident with former US President Donald Trump. The assassination attempt on the politician increased his chances of winning the presidential race and the November election. Supported by this, the US dollar and US government bond yields are increasing, with other currencies forced to adapt to this situation. Due to this, Switzerland’s domestic statistics are of secondary importance to investors. Switzerland’s producer price index for June was released yesterday, coming in at zero month-over-month following a previous decrease of 0.3%. However, the indicator fell by 1.9% year-over-year. USDCHF technical analysis Technical analysis of the USDCHF pair on the H4 chart as of 16 July 2024 suggests that a decline wave could continue to 0.8901, representing the first target. Once the price reaches this target, a correction towards 0.8975 might develop. Subsequently, another decline wave could follow, aiming for 0.8826 and potentially continuing to 0.8761. USDCHF investors are forced to take into account the strength of the US dollar. Technical analysis for today’s USDCHF forecast suggests that a wave might continue to the 0.8901 target. Read more - USDCHF Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

JPY loses ground after strengthening Yen’s attempts to strengthen failed. The Japanese currency continues to lose ground against the US dollar. USDJPY trading key points Japan’s services PMI (m/m): previously at 2.2%, currently at -0.4% US core retail sales index (m/m): previously at -0.1%, forecasted at 0.1% US retail sales (m/m): previously at 0.1%, forecasted at -0.3% USDJPY price targets: 155.00 and 154.55 Fundamental analysis After attempting to strengthen against the US dollar, the yen begins to lose ground. Japan’s services PMI (m/m) was forecasted to be positive but decreased to -0.4%, affecting the USDJPY rate not in favour of the yen. The US core retail sales index and retail sales are projected to rise slightly. After the release of actual data, this may help strengthen the US dollar against the yen. However, actual values could be worse than forecasted. In this case, the USDJPY rate may continue to decline as part of a corrective wave. Hopes for the yen’s strengthening and stabilisation are fading away every day. Although currency intervention can save the yen, the Bank of Japan is not yet ready for it. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

EURUSD continues to rise: demand for risk wins over caution The EURUSD pair remains in positive territory, but the market acts carefully. It has yet to evaluate the consequences of an assassination attempt on Trump. The EURUSD pair suspended but did not halt its growth, with the main movements around 1.0892 at the start of the week. Friday’s US statistics were surprising. The producer price index in June rose by 0.2% m/m from the zero value in May in line with the 0.2% forecast. The indicator increased by 2.6% year-over-year from the previous 2.4%. Manufacturing inflation is rising, which may alert the US Federal Reserve and prompt it to maintain elevated interest rates longer than necessary. The University of Michigan consumer sentiment index dropped to 66.0 points in July, falling short of forecasts of 69.5, which may also be attributed to the inflationary environment. The weekend events could not but impact the market. This refers to the incident with former US President Donald Trump, who was shot in the ear at his rally in Pennsylvania. EURUSD technical analysis On the H4 chart, the EURUSD pair has formed a consolidation range around 1.0888 and extended it to 1.0910. Today, 15 July 2024, the market returned to 1.0881. The price is expected to breach this level and extend the range down to 1.0858, representing the first target for correction. A corrective wave could practically form, with the main target at 1.0808. After the correction, another growth structure might develop towards 1.0950, marking the completion of growth potential. Volatility in the EURUSD pair will increase during the US presidential race. Technical indicators point to a further correction towards the 1.0808 target. A growth wave could start once the correction is complete, aiming for 1.0950. Read more - EURUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

Elon Musk’s ambitious projects could elevate Tesla to a new level. Is it worth investing in its stock now? Over the past 30 days, the yield on Tesla (NASDAQ: TSLA) shares has exceeded 48%. Elon Musk has grand plans for the company’s future. Is it worth investing in Tesla stock now? What can prevent Musk from implementing his ambitious plans? Find out more in this article. Tesla shares have experienced a prolonged decline since January 2024, with the price falling by more than 50% in four months. The price decline could be driven by Tesla’s refusal to pay compensation of approximately 55 billion USD to Elon Musk, who threatened to leave the company. The situation changed radically on 13 June when the annual shareholder meeting approved this payment. Since that day, the stock price has significantly recovered, rising nearly 50% in just one month. Tesla Inc revenue streams Tesla Inc generates revenue through various sources reflecting the diversity of its products and services. The main ones are listed below: Automotive sales – this includes direct sales to consumers and rentals Regulatory credits – selling regulatory credits to other car makers who need them to comply with environmental standards Energy generation and storage – producing and selling solar energy systems and energy storage devices such as Powerwall (for domestic use), Powerpack (for commercial use), and Megapack (for large-scale energy storage) Services and others – service and repair centres, the Supercharger network, and insurance services for Tesla electric vehicle owners Software and autonomous driving – fees for advanced driver assistance systems (Autopilot), the full self-driving unit (FSD), and software updates Tesla Inc Q1 2024 financial performance Today is 15 July 2024, meaning that the second quarter of the year is over. However, Tesla will only release its Q2 report on 23 July, so we will now analyse Q1 2024 indicators. Below is the Q1 2024 financial performance data compared to Q1 2023. Key data: Total revenues – 21.30 billion USD (a 9% decrease) Net profit – 1.10 billion USD (a 55% fall) Earnings per share – 0.34 USD (a 53% decrease) Operating margin – 5.5% (a fall of 592 basis points) Capital expenditures – 2.77 billion USD (a 34% increase) Tesla Inc promising business areas In January 2024, the Delaware (US) court invalidated a compensation package worth 55 billion USD payable to Elon Musk for his role as Tesla’s CEO. Musk criticised this decision and threatened to leave the company unless he received the compensation. He later changed Tesla’s registration from Delaware to Texas. At the annual shareholder meeting in June 2024, Musk’s compensation package issue was raised again and was approved. Although the real reasons behind this decision can only be speculated upon, it is evident that shareholders are placing another bet on Elon Musk, expecting the company’s further growth under his leadership. Robotaxi Tesla is actively developing a robotaxi service, where autonomous cars provide transportation services without involving drivers. In the future, Tesla electric car owners will be able to add their vehicles to the robotaxi network when not in personal use and earn money by renting them out as taxis. Consumers will be able to order Tesla robotaxis by using a mobile app similar to Uber and Lyft taxi services. Market analysis for other instruments can be found in the section "Market analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

The GBPUSD pair hit a monthly peak The GBPUSD pair is appreciating markedly; market sentiment is positive. The Bank of England is gathering additional arguments in favour of falling inflation. The British pound sterling appears strong against the US dollar. The latest growth impulse was driven by a statement made by Bank of England Chief Economist Huw Pill. He noted that additional evidence of a sustained decline in inflation was necessary before deciding to lower interest rates. Pill believes rising prices in the services sector and overall wage growth negatively impact consumer prices. UK inflation reached the 2% target in May. However, according to Pill, more is needed as this could be a temporary phenomenon. The market currently expects borrowing costs to be reduced at the September meeting. According to stock market forecasts, two interest rate cuts of 25 basis points each are possible by the end of the year. GBPUSD technical analysis Based on analysis as of 12 July 2024, the GBPUSD pair has reached the growth wave’s local target of 1.2945. Today, a correction might start, aiming for 1.2777. After the correction, the price could rise to 1.2950, marking the completion of growth potential. Subsequently, a decline wave could begin, targeting 1.2610. The pound sterling is rising steadily and has reached a monthly high. Technical analysis suggests that the GBPUSD rate will continue its upward trajectory to the 1.2950 target. Read more - GBPUSD Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team