Analysis for February 17th, 2014
EUR USD, “Euro vs US Dollar”
Market was opened with gap and Euro is trying to continue moving upwards; price is forming ascending wave with target at 1.3900. We think, today price may form consolidation channel near level of 1.3700 and then continue growing up. This consolidation channel is expected to be between levels of 1.3660 and 1.3760.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming ascending structure. We think, today price may continue moving upwards to reach level of 1.6900. We think, today price may form consolidation channel and then fall down towards level of 1.6800. Later, in our opinion, instrument may start new ascending movement to reach level of 1.7000.
USD CHF, “US Dollar vs Swiss Franc”
Franc is forming consolidation channel to break level of 0.8920. We think, today pair may fall down to reach level of 0.8850, break it, and then continue moving downwards to reach main target at level of 0.8300.
USD JPY, “US Dollar vs Japanese Yen”
Yen couldn’t form ascending structure towards level of 104.00 and right now is moving downwards. We think, today price may continue falling down towards level of 100 and then form reversal structure to start new ascending movement to reach level of 104.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming ascending structure. We think, today price may reach level of 0.9100. Later, in our opinion, instrument may form reversal structure to continue moving inside descending trend to reach level of 0.8400.
XAU USD, “Gold vs US Dollar”
Gold is still moving upwards and forming ascending wave. We think, today price may reach level of 1330, start correction towards level of 1285 and then continue growing up to reach level of 1360. Later, in our opinion, instrument may extend this wave up to level 1380 and then start new descending structure to break minimums.
RoboForex Analytical Department