Forex Technical Analysis & Forecast 22.02.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

22.02.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is forming the fifth descending wave with the target at 1.0500. Possibly, today the price may test 1.0560 from below. Later, in our opinion, the market may continue falling towards 1.0500. After that, the instrument may be corrected to reach 1.0660.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has failed to fix below 1.2400; it has broken the Triangle pattern to the upside and expanded the consolidation range. Possibly, the price may grow towards 1.2585. After that, the instrument may return to 1.2480 and then start another growth to reach 1.2690.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is forming the fifth ascending wave with the target at 1.0133. Possibly, today the price may test 1.0060 from below. Later, in our opinion, the market may continue growing to reach 1.0133. After that, the instrument may be corrected towards 1.0010.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still moving upwards with the target at 115.30. After that, the instrument may start falling towards 111.10.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is still consolidating. Possibly, today the price may reach 0.7631. Later, in our opinion, the market may start moving upwards with the target at 0.7681.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is growing towards 58.73. Possibly, today the price may form the fifth structure of the wave. After that, the instrument may be corrected to reach 57.64.

 

XAU USD, “Gold vs US Dollar”

Gold is falling towards 1212. Later, in our opinion, the market may form another consolidation range. After breaking it to the downside, the instrument is expected to continue falling inside the downtrend with the target at 1182.

 

BRENT

Brent is forming another descending impulse. Possibly, today the price may be corrected towards 57.00. Later, in our opinion, the market may break the low of this impulse and continue falling to reach 55.80.

 

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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