Analysis for February 11th, 2016
Eurodollar has completed its descending impulse and corrected it. We think, today the price may form another descending wave to break the minimum of the impulse and continue falling to reach the next target at 1.0990. An alternative scenario implies that the pair may reach another new high at 1.1350 and then continue falling inside the downtrend.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is forming an ascending structure with the target at 1.4700. We think, today the price may complete it and then start forming a five-wave correction to return to 1.4385.
USD CHF, “US Dollar vs Swiss Franc”Franc has completed its ascending impulse and corrected it. We think, today the price may grow to break the maximum of the impulse. The next upside target is at 0.9950. An alternative scenario implies that the pair may reach another new low at 0.9660 and then continue moving inside the uptrend.
USD JPY, “US Dollar vs Japanese Yen”Yen has reached its downside target. We think, today the price may consolidate near its lows and form a reversal structure. After that, the market may start a five-wave correction towards 120.70.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar has reached the target of the correction. We think, today the price may form another ascending structure to reach 0.7188, thus completing this five-wave correction. After that, the market may form another descending structure towards 0.6660.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble is growing towards 80.22. We think, today the price may reach this level and start falling towards 76.00. Later, in our opinion, the market may form another ascending structure with the target at 81.00.
XAU USD, “Gold vs US Dollar”Gold hasn’t been able to finish its descending impulse. The market has reached a new high; this structure may be considered as the expansion of the channel upwards. We think, today the price may expand it downwards as well and then test the center of the channel from below. Later, in our opinion, the market may break the lows and the entire structure may be considered as a reversal pattern for a new descending movement with the target at 1117.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Live Account.