Analysis for February 2nd, 2015
Eurodollar is still moving inside consolidation channel of its correctional wave. According to the main scenario, the pair may fall towards level of 1.1218 and then return to level of 1.1317, thus form a new range. If later the market breaks it upwards, it may form an ascending correction; if downwards – the downtrend will continue to reach level of 1.1000.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is still forming an ascending wave. We think, today the price may reach level of 1.5106 and then return to level of 1.5050: this consolidation channel may be considered as triangle pattern. If the market breaks the pattern downwards, it may reach level of 1.4800; if upwards – it may continue growing as a correction.
USD CHF, “US Dollar vs Swiss Franc”Franc continues moving upwards; the pair is forming a consolidation channel at the top. We think, today the price may reach level of 0.9310 and then continue moving downwards to return to level of 0.8887.
USD JPY, “US Dollar vs Japanese Yen”The market was opened with a gap down and Yen broke triangle pattern downwards. We think, today the price may test level of 117.78 from below and then continue moving inside the downtrend. The local target is at level of 115.00.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is growing and attempting to break the top of the first impulse. If the price breaks level of 0.7800, it may continue growing to reach level of 0.7880. After that, the pair is expected to move towards level of 0.7800 again.
USD RUB, “US Dollar vs Russian Ruble”Ruble has reached its target and expanded trading range upwards. We think, today the price may fall and return back to its consolidation channel. The pair is expected to continue falling down to reach level of 55.00.
XAU USD, “Gold vs US Dollar”Gold is still growing with the target at level 1285. After that, the market may continue moving downwards and form a descending wave with the target at level of 1212.
RoboForex Analytical Department
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