Analysis for February 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has expanded its consolidation channel upwards. We think, today the price may return to level of 1.1470 and then fall towards level of 1.1235. After that, the pair may consolidate for a while and then continue falling inside the downtrend to reach level of 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached its local upside target. We think, today the price may fall and form the fourth correctional wave with the target at level of 1.5190. After that, the pair the fifth ascending wave to reach level of 1.5430. If the current ascending movement reaches level of 1.5434, later the market may fall inside the downtrend towards level of 1.4850.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving near the upper border of its consolidation range. We think, today the price may start forming a descending wave with the target at level of 0.8830.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished a descending wave. We think, today the price may correct this wave and return to level of 119.60. After that, the pair may continue falling to complete head & shoulders
reversal pattern. The target is at level of 116.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has completed its correction. We think, today the price may continue falling towards level of 0.7600. After that, the pair may consolidate for a while and then continue moving to reach 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 downside continuation pattern. The local target at level of 57.00.
XAU USD, “Gold vs US Dollar”
Gold is attempting to form a correction towards level of 1240. After that, the price may fall to return to level of 1210 and then form another correction, thus expanding the current consolidation channel first upwards and then downwards. Later, in our opinion, the market may the center of the channel from below and then continue falling inside the downtrend. The main target of this wave is at 1113; the first one is at level of 1190.
RoboForex Analytical Department