Analysis for February 10th, 2016
Eurodollar continues consolidating. We think, today the price may expand the channel downwards to reach 1.1240 and then return to 1.1300 to test it from below. After that, the market may continue falling inside the downtrend. The next target is at 1.1100.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is forming an ascending structure, the fifth one. The target is at 1.4740. Later, in our opinion, the market may fall towards 1.4400.
USD CHF, “US Dollar vs Swiss Franc”Franc is moving downwards inside its consolidation channel. We think, today the price may expand it upwards and return to 0.9863. Later, in our opinion, the market may fall towards 0.9770.
USD JPY, “US Dollar vs Japanese Yen”Yen is consolidating near its lows; this descending wave may yet continue. Possibly, today the price may break the channel downwards and reach 113.00. After that, the market may form an ascending correction to return to 120.70.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is consolidating. We think, today the price may reach 0.7113 and then fall towards 0.6962. After that, the market may return to 0.7100 then continue falling inside the downtrend towards 0.6937.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble is still being corrected towards 80.00. We think, today the price may reach the local target of this correction at 80.22 and then start falling towards 76.00. Later, in our opinion, the market may complete the correction by moving upwards and reaching 81.00, and then resume falling inside the downtrend towards 69.00.
XAU USD, “Gold vs US Dollar”Gold is consolidating at the top of its ascending wave. We think, today the price may fall towards 1174 and then return to 1187. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1117.
RoboForex Analytical Department
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