Forex Technical Analysis 17.02.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

17.02.2016

Analysis for February 17th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is consolidating near the minimums of its descending wave. We think, today the price may expand the channel upwards to start a correction with the target at 1.1250. After that, the market may continue falling inside the downtrend to reach 1.1000.




GBP USD, “Great Britain Pound vs US Dollar”

Being under pressure, Pound is falling. We think, today the price may reach 1.4266 and then return to 1.4430 to test it from below or even continue growing towards 1.4700. After completing this correction, the market may fall to return to 1.4385. An alternative scenario implies that the pair may continue falling inside the downtrend to reach the next target at 1.3850.




USD CHF, “US Dollar vs Swiss Franc”

Franc is consolidating. We think, today the price may break this channel downwards and start a correction to return to 0.9770. Later, in our opinion, the market may grow to reach 0.9940.




USD JPY, “US Dollar vs Japanese Yen”

Yen is moving back to 113.16. After reaching it, the price may grow towards 115.50 and then return to 113.16, thus defining the border of another consolidation channel. If the channel is broken upwards, the correction may continue up to 120.70; if downwards - the market may continue falling inside the downtrend to reach 109.00.




AUD USD, “Australian Dollar vs US Dollar”

Being under pressure, Australian Dollar is still falling; the target is at 0.7052. Possibly, after that the price may test 0.7128 from below and then continue falling to reach a new low. Later, in our opinion, the pair may continue falling inside the downtrend with the target at 0.6660.




USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is moving upwards. Possibly, it may reach 81; this structure may be considered as the last one of the flag correctional pattern. After that, the market may start forming another descending wave with the target at 76. Later, in our opinion, the pair may form a continuation pattern to continue falling inside the third wave with the target at 69.




XAU USD, “Gold vs US Dollar”

Gold is consolidating. We think, today the price may grow to reach 1219.00. Later, in our opinion, the market may continue falling towards 1172.60.



 
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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.