Analysis for February 20th, 2015
Eurodollar is moving downwards. We think, today the price may reach level of 1.1240 and then return to level of 1.1380. After that, the pair may form a new consolidation channel and then break it downwards to reach level of 1.1000. An alternative scenario implies that the market may break it upwards and continue the current correction towards level of 1.1640.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has broken its ascending channel. We think, today the price may start a correction to reach level of 1.5190 (at least). The first downside target is at 1.5320. After that, the pair may consolidate and continue falling.
USD CHF, “US Dollar vs Swiss Franc”Franc is still forming an ascending structure. We think, today the price may extend this structure towards level of 0.9525. However, the market may finish this ascending movement at any moment and start a fast movement inside the downtrend. The first downside target is at level of 0.8830.
USD JPY, “US Dollar vs Japanese Yen”Yen is still consolidating. We think, today the price may continue falling to break level of 118.20 and then form another consolidation channel. After that, the market may continue falling towards the lower border of triangle pattern.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is moving upwards. We think, today the price may reach level of 0.7870. After that, the market may continue falling towards the lower border of its consolidation channel at level of 0.7680.
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 is still consolidating near level of 1210; this structure may be considered as a downside continuation pattern. The main target is at level of 1113.
RoboForex Analytical Department
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