Forex Technical Analysis & Forecast 17.02.2021

17.02.2021

EURUSD, “Euro vs US Dollar”

After finishing the ascending structure at 1.2168 and then forming a new consolidation range within a Triangle pattern, EURUSD has rebounded from its upside border to reach 1.2100; right now, it is forming another consolidation range around the latter level. Today, the pair may fall towards 1.2077 and form one more ascending structure to test 1.2100 from below. Later, the market may 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”

GBPUSD is still consolidating around 1.3900. Possibly, today the pair may fall towards 1.3850 and then grow to reach 1.3900. If later the price breaks this range to the downside, the market may form a new descending structure towards 1.3770; if to the upside – start another growth with the target at 1.3980.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 73.33; it has already expanded the range up to 73.90. Possibly, the pair may continue trading downwards to reach 72.90 and then grow to test 73.30 from below. After that, the instrument may start another decline with the target at 72.50.

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 106.21, USDJPY is falling towards 105.75, thus forming a new consolidation range at the top. Later, the market may break the range to the downside and continue trading downwards with the first target at 105.20.

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

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending wave at 0.8870, USDCHF has completed the ascending impulse towards 0.8926; right now, it is consolidating around the latter level. Possibly, the pair may expand the range up to 0.8945 and then fall to return to 0.8926. After that, the instrument may resume trading upwards with the first target at 0.8988.

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 0.7760. Possibly, today the pair may resume trading upwards to reach 0.7810 and then start a new decline with the target at 0.7679.

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”

After breaking its consolidation range to the downside and reaching 1792.43, Gold has returned to 1814.00 to test it from below; right now, it is forming a new descending structure towards 1772.52. After that, the instrument may start another correction with the target at 1820.00.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has completed the first descending impulse at 47700.00 along with the correction towards 50000.00, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may correct with the short-term target at 44600.00.

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 consolidating around 3927.1. Today, the asset may grow to reach 3971.0 and then break the range to the downside to reach 3829.0. After that, the instrument may break the latter level as well and continue falling with the target at 3609.0.

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.