Analysis for February 18th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating near level of 1.3700. We think, today price may expand this trading range by moving upwards to reach level of 1.3760 and then falling down towards level of 1.3700. Later, in our opinion, instrument may continue growing up to break this consolidation channel upwards to reach target at 1.3900.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still consolidating. We think, today price may continue moving upwards to reach level of 1.6900. Later, in our opinion, instrument may start new descending movement to reach level of 1.6800 and then form another ascending structure towards level of 1.7000.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming consolidation channel. We think, today pair may return to level of 0.8940 and then expand this channel by falling down towards level of 0.8870. Later, in our opinion, instrument may test level of 0.8900 from below and then continue moving downwards to reach main target at level of 0.8300.
USD JPY, “US Dollar vs Japanese Yen”
Influenced by the news, Yen continued forming ascending structure. We think, today price may reach level of 103.40, return to level of 102.40, and then continue growing up to reach main target of this correction at level of 104.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming its final 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 wasn’t traded yesterday because of Presidents’ Day. We think, today price may continue growing up to reach level of 1330, fall down towards level of 1285, and then start another ascending wave to reach level of 1360 or even extend this wave up to level 1380.
RoboForex Analytical Department