Forex Technical Analysis & Forecast 14.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

EURUSD, “Euro vs US Dollar”

After finishing the correction towards 1.0888 and then breaking 1.0858 to the downside, EURUSD has formed a downside continuation pattern. Possibly, pair may continue falling to reach 1.0828. After that, the instrument may start another correction to test 1.0858 from below and then resume trading inside the downtrend with the target at 1.0799.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed the ascending structure; right now, it is consolidating around 1.3034. If later the price breaks this range to the downside, the instrument may start a new correction to break 1.3000 and then continue trading downwards with the target at 1.2944.

USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9784 upwards, USDCHF has tested it from above. The main scenario implies that the pair may continue trading upwards to reach 0.9809. After that, the instrument may start a new correction towards 0.9794 and then form one more ascending structure with the target at 0.9828.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the descending impulse towards 109.61; right now, it is growing to reach 109.90. Later, the market may form a new descending structure towards 109.75, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the instrument may start another decline towards 109.25; if to the upside – form one more ascending structure with the target at 110.22.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the correction at 0.6742, AUDUSD has broken the correctional channel downwards. Possibly, the pair may trade downwards to break 0.6703 and then continue falling with the short-term target at 0.6680.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending impulse at 62.91 along with the correction towards 63.77. Today, the pair may form a new descending impulse to break 62.81 and then continue trading inside the downtrend with the short-term target at 61.88.

USDCAD, “US Dollar vs Canadian Dollar”

After completing the descending impulse towards 1.3235, USDCAD has broken this impulse’s channel upwards. Possibly, the pair may grow towards 1.3292 and then fall to return to 1.3264, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the instrument may start a new decline towards 1.3188; if to the upside – form one more ascending structure to reach 1.3344.

XAUUSD, “Gold vs US Dollar”

Gold is moving upwards. Today, the pair may reach 1581.54 and then start a new correction towards 1573.21. After that, the instrument may resume trading upwards with the target at 1584.58.

BRENT

Brent has reached its short-term target at 56.30; right now, it is consolidating below it. If later the price breaks this range to the downside, the instrument may start a new correction towards 55.05; if to the upside – resume trading inside the uptrend with the target at 57.12.

BTCUSD, “Bitcoin vs US Dollar”

After finishing the descending impulse towards 10052.00, BTCUSD has completed the correction at 10300.00, thus forming a new consolidation range. According to the main scenario, the pair may break the range to the downside and resume falling with the short-term target at 9800.00.