Analysis for February 10th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has completed triangle
pattern and formed a narrow consolidation range near the pattern’s lower border. The market is expected to continue moving inside the downtrend. We think, today the price may break the minimum of this consolidation range and reach level of 1.1100. An alternative scenario implies that the market may grow to break the pattern’s upper border, reach level of 1.1640, and then continue falling towards new lows.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming the third ascending structure. We think, today the price may reach the local target at level of 1.5400, form a correction to return to level of 1.5190, and then form the fifth ascending wave to reach level of 1.5430. This wave is considered as a correctional one; after that, the market is expected to continue falling inside the downtrend to reach new lows.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside a narrow consolidation range without any particular direction. The main scenario remains the same: the pair is expected to continue falling inside the downtrend. The main target is at level of 0.8200; the first one is at level of 0.8830.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still falling; the pair is forming another downside continuation pattern. The target is at level of 117.80. After that, the price may return to level of 118.50 and then continue falling inside the downtrend to reach level of 115.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving upwards to reach level of 0.7970. After that, the price may continue falling. The main target is at level of 0.7570.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside a narrow consolidation range in the form of triangle
pattern. We think, today the price may break the lower border and fall towards level of 63.00. After that, the market is expected to form another consolidation channel, which may be considered as a continuation pattern. The local target at level of 57.00.
XAU USD, “Gold vs US Dollar”
Gold is growing inside the fourth wave; the target of this movement is at level of 1256. Later, in our opinion, the market may resume falling to reach level of 1210; this structure may be considered the first wave inside the fifth one. After that, the price may form a correction to return to level of 1250 to test it from below and then resume falling inside the downtrend.
RoboForex Analytical Department