Analysis for February 2nd, 2016
Eurodollar has extended the correction and transformed it into a proper ascending wave. At the moment, the pair is expected to fall and return to 1.0845. The market continues consolidating inside a large triangle pattern. The main scenario remains the same and implies that the price may break the channel downwards and then continue falling towards 1.0682.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has broken the consolidation channel upwards. We think, today the price may test 1.4350, reach the local target at 1.4540, and then return to 1.4350 to test it from above.
USD CHF, “US Dollar vs Swiss Franc”Franc has tested the center of its consolidation channel from above and right now is growing. We think, today the price may continue this wave to reach 1.0352. Later, in our opinion, the market may start consolidating again.
USD JPY, “US Dollar vs Japanese Yen”Yen is still consolidating. We think, today the price may reach 120.13 and then return to 120.90. After that, the market may continue falling towards 118.60.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is also consolidating. We think, today the price may fall towards 0.7050, break it, and then continue moving downwards to reach 0.6825.
USD RUB, “US Dollar vs Russian Ruble”Following the oil market, Russian Ruble has started a new correction to return to 78.40. Later, in our opinion, the market may акь another descending structure with the target at 70.84.
XAU USD, “Gold vs US Dollar”Gold has expanded its consolidation channel upwards. We think, today the price may test 1119.81 from above 1124 and then complete this ascending wave by forming another ascending structure to reach 1131.10. Later, in our opinion, the market may continue falling inside the downtrend towards 1089.00.
RoboForex Analytical Department
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