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Forex Technical Analysis 03.02.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for February 3rd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside consolidation channel without any particular direction. We think, today the price may fall to break level of 1.1285 and then continue moving downwards to reach level of 1.1218.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still moving downwards; the pair has formed a downside continuation pattern. We think, today the price may break level of 1.4990 and then continue falling towards level of 1.4850.

USD CHF, “US Dollar vs Swiss Franc”

Franc has formed a consolidation channel, which looks like diamond pattern. We think, today the price may continue moving downwards to reach level of 0.8880.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still moving downwards. We think, today the price may reach level of 116.00, 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 moving downwards and forming the third descending wave with the main target at level of 0.7560. Possibly,
the market may even extend this wave towards level of 0.7350. As long as the pair is moving inside the previous descending channel, we shouldn’t consider any corrections.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is also moving downwards. We think, today the price may continue falling to reach level of 66.60 and then grow towards level of 68.60. After that, the pair is expected to continue falling down to reach level of 62.00.

XAU USD, “Gold vs US Dollar”

Gold is still moving inside the second wave, which may be considered as a correction with the target at level of 1285 (at least). After that, the market may fall inside the third wave. The main downside target is at level of 1212.

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