Analysis for February 4th, 2015
Eurodollar has managed to break the top of its first impulse; the market is expected to form another ascending wave to reach level of 1.1550. We think, today the price may fall towards level of 1.1408 and then move upwards to reach its local target.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has completed an ascending structure and tested triangle’s border. We think, today the price may form another descending structure and return to level of 1.5060.
USD CHF, “US Dollar vs Swiss Franc”Franc has formed the first descending impulse and corrected it. We think, today the price may break the minimum of this first impulse and then continue moving downwards to reach level of 0.8990. This descending movement may be considered as the start of a new correction.
USD JPY, “US Dollar vs Japanese Yen”Yen has attempted to return into its consolidation triangle pattern. We think, today the price may form another descending structure to reach level of 116.70, consolidate for a while, and then continue moving inside the downtrend towards level of 115.00.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar has finished an ascending structure. We think, today the price may fall to return to level of 0.7700; this movement may be considered as another wave inside the downtrend. The main downside target is at level of 0.7570.
USD RUB, “US Dollar vs Russian Ruble”Ruble is moving downwards. We think, today the price may continue forming this descending wave. The first target is at level of 57.50. After that, the market may consolidate and then continue falling.
XAU USD, “Gold vs US Dollar”Gold is still moving downwards. We think, today the price may test level of 1250 and then return to 1267. After that, the market may fall to break level of 1250 and then continue moving downwards. The main target of this wave is at level of 1212.
RoboForex Analytical Department
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