Forex Technical Analysis & Forecast 16.02.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

16.02.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has reached the local target of the descending wave and right now is being corrected. Possibly, the price may grow towards 1.0658 to test it from below. Later, in our opinion, the market may start forming the fifth wave to reach 1.0500.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has completed the third descending wave and right now is forming the fourth one to reach 1.2489. After that, the instrument may fall with the target at 1.2344 and then move upwards again to reach 1.2580.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is being corrected upwards. Possibly, today the price may reach 1.0017 and then continue growing towards 1.0133.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is being corrected towards 113.48. Later, in our opinion, the market may grow with target at 115.30.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has reached 0.7725 once again. Possibly, today the price may form another descending wave with the target at 0.7600. After breaking this level, the instrument may continue falling to reach 0.7500.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has completed the ascending impulse. Possibly, today the price may complete the correction at 57.21. Later, in our opinion, the market may grow towards 58.36.

 

XAU USD, “Gold vs US Dollar”

Gold is extending the correction towards 1239.00. After that, the instrument may continue falling inside the downtrend to reach 1211.00, or even extend this structure towards 1192.50.

 

BRENT

Brent is forming another descending structure to reach 55.37. Right now, the instrument is consolidating in the center of this wave. Possibly, the price may break this range downwards to reach 55.37. Later, in our opinion, the market may grow towards 56.24 and then start another decline to reach the local target at 54.00.

 

RoboForex Analytical Department

 

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.

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