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Forex Technical Analysis 19.02.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for February 19th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still consolidating. We think, today the price may grow to reach a new high and level of 1.1458 and then fall towards level of 1.1240. After that, the pair may return to level of 1.1390. Thus, the market continues forming the current consolidation channel.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has attempted to expand its consolidation channel upwards. We think, today the price may form a structure to expand it downwards and reach level of 1.5190 (at least). After that, the pair may return to level of 1.5300, thus forming a new consolidation range.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still moving upwards. We think, today the price may form a reversal structure and start falling towards level of 0.8830. This descending movement may be considered as the continuation of the downtrend.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still forming another descending wave. We think, today the price may reach level of 118.25 and then form a consolidation channel as a downside continuation pattern. The pair is expected to form a descending wave to fall towards the lower border of triangle pattern.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still consolidating below level of 0.7800. An alternative scenario implies that if the pair continues growing, the current correction may continue up to level of 0.7960. The main scenario is still the same: the price may continue falling inside the downtrend to reach level of 0.7570.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still moving downwards; the price is forming the third descending wave with the target at level of 57.60. After that, the market may return to level of 62.00 and then continue falling towards the target at level of 55.00.

XAU USD, “Gold vs US Dollar”

Gold has started forming an ascending correctional impulse. We should note that the market is moving inside the short-term tendency of the downtrend; the target is at level of 1113. Any attempts of the market to start corrections may be used to increase short positions.

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