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Forex Technical Analysis 16.02.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for February 16th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is trying to form an ascending structure to reach level of 1.1453 and complete the current correction. After that, the pair may fall towards level of 1.1230 and then then continue falling inside the downtrend to reach level of 1.1000.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has moved upwards and completed its correctional wave. We think, today the price may consolidate and form a reversal pattern. After breaking an ascending channel, the pair is expected to continue falling inside the downtrend. The first target is at level of 1.5200.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating. We think, today the price may grow to reach level of 0.9350 and then fall towards level of 0.8830.

USD JPY, “US Dollar vs Japanese Yen”

Yen is falling; the market has formed a continuation pattern. We think, today the price may form a wave to reach level of 117.10. This level is considered to be the lower border of triangle consolidation pattern.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still being corrected. We think, today the price may reach level of 0.7800 and then fall towards level of 0.7570 to complete the third descending wave. After that, the pair may form a higher correction.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still moving downwards. We think, today the price may continue forming the third descending wave towards level of 57.00. After that, the market may grow to test level of 63.00 from below and then continue falling towards the target at level of 55.00.

XAU USD, “Gold vs US Dollar”

Gold is attempting to form a correction towards level of 1235. This ascending movement may be considered only as a correction. The next downside target is at 1210.

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