Analysis for February 23rd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside its correctional channel and forming a descending structure with the target at level of 1.1240. We think, today the price may reach level of 1.1260 and then return to level of 1.1385.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming a descending structure with the target at level of 1.5326. After that, the pair may return to level of 1.5400, thus forming a consolidation range in the form of diamond
pattern. The main scenario implies that the market may break the minimum of this pattern and then continue falling towards level of 1.5150.
USD CHF, “US Dollar vs Swiss Franc”
Franc has finished a descending impulse. We think, today the price may correct this impulse and then continue falling to break its minimum. The market is expected to form a descending wave with the target is at level of 0.8830.
USD JPY, “US Dollar vs Japanese Yen”
After finishing a descending impulse, Yen has formed pennant
pattern. We think, today the price may form another descending impulse to break level of 118.15 and then form continue falling towards the predicted target at 117.20.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still forming an ascending structure with the target at level of 0.7870. After that, the market may start a correction towards level of 0.7760, thus forming a new consolidation range. If the market breaks the channel upwards, it may continue the correction towards level of 0.7980; if downwards – the price may continue falling inside the downtrend to reach level of 0.7570.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is not traded due to the celebration of Defender of the Fatherland Day in Russia. Starting February 24th
, the instrument will be available for trading as usual. We should note, that taking into account the fundamental background and the decrease of the credit rating of Russia, the price may return to level of 63.00 after the market opening. After that, the market may continue falling towards the target at level of 57.00.
XAU USD, “Gold vs US Dollar”
Gold continues moving inside the central part of its continuation pattern. We think, today the price may reach level of 1190 and then form the right part of the pattern to return to 1207 (at least). After that, the market may fall to break level of 1190. The main target is at level of 1113.
RoboForex Analytical Department