Analysis for February 5th, 2016
Eurodollar has formed the descending impulse. We think, today the price may grow a little bit and form a consolidation channel. After that, the pair may break it downwards and start a new correction to return to 1.1000 at least. Later, in our opinion, the market may grow to reach 1.1300. An alternative scenario implies that the pair may reach its downside target without any corrections.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has completed its descending impulse and right now is consolidating. We think, today the price may fall towards 1.4385 and then form another ascending structure towards 1.4687. Later, in our opinion, the market may continue falling inside the downtrend.
USD CHF, “US Dollar vs Swiss Franc”Franc has completed its five-wave descending structure, which may be considered as a correctional one. We think, today the price may consolidate at its lows. Later, in our opinion, the market may break this channel upwards and continue growing inside the uptrend the first target is at 1.0040.
USD JPY, “US Dollar vs Japanese Yen”Yen hasn’t completed its descending wave yet. We think, today the price may continue falling towards 115.33. After that, the market may start forming another consolidation channel. If the channel is broken downwards, the pair may reach 115.00; if upwards – form a correction towards 120.00.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is consolidating at the top. We think, today the price may continue consolidating. Later, in our opinion, the market may break this channel downwards and reach 0.7000.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble is consolidating near 76.00. We think, today the price may break the minim of this consolidation channel and continue falling to reach 70.84.
XAU USD, “Gold vs US Dollar”Gold is moving upwards. Possibly, it may reach new lows at 1173. Later, in our opinion, the market may continue falling towards 1125.
RoboForex Analytical Department
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