Forex Technical Analysis & Forecast 16.02.2021

16.02.2021

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.2125 along with another ascending structure towards 1.2148, EURUSD is expected to start a new correction to reach 1.2130. Later, the market may form one more ascending structure towards 1.2172 and then resume falling with the target at 1.2040.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the ascending structure at 1.3895 and then forming a new consolidation range above this level, GBPUSD has broken it to the upside to reach 1.3950. After that, the instrument may correct towards 1.3920 and then start another growth with the target at 1.3969.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

After finishing the descending structure at 73.33, USDRUB is consolidating around it. Possibly, the pair may continue trading downwards with the target at 72.52.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending wave at 105.30 and then forming a new consolidation range around this level, USDJPY has broken it to the upside and may later continue growing to reach 105.74. After that, the instrument may correct to return to 105.30 and then resume trading upwards with the target at 106.20.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the descending wave at 0.8889. Possibly, today the pair may correct to test 0.8907 from below and then resume trading downwards with the target at 0.8870.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has formed another consolidation range around 0.7780; right now, it is moving to break it to the upside. Possibly, the pair may resume trading upwards with the target at 0.7846.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating above 62.50. Possibly, the asset may break the range to the upside and form one more ascending structure to reach 64.90. After that, the instrument may start a new correction with the target at 62.50.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1822.00. Today, the metal may start another growth to reach 1833.66 and then form a new descending structure with the target at 1803.70.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is forming a wide consolidation range around 47400.00; it has already expanded it down and up to 46000.00 and 49800.00 respectively. Possibly, the asset may grow to reach 50500.00 and then form a new descending structure towards 44400.00. If later the price breaks this range to the downside, the market may correct with the target at 38800.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index is still moving upwards and may later extend this wave up to 3971.0. After that, the instrument may consolidate there. If the price breaks the range to the downside, the market may start a new decline with the target at 3700.0.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.