Forex Technical Analysis 06.02.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

06.02.2015

Analysis for February 6th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is trying to continue its ascending movement. We think, today the price may fall towards level of 1.1395, move upwards to break level of 1.1500, and then reach level of 1.1590. This structure may be considered as a wave with the target at level of 1.1690, which may complete the current ascending movement. After that, the pair may continue falling inside the downtrend. The next target is at level of 1.1000.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming the third ascending structure with the target at level of 1.5396. We think, today the price may reach it, fall towards level of 1.5194, and then form another ascending structure to reach level of 1.5435 thus completing this ascending movement. After that, the market may continue falling inside the downtrend towards level of 1.4850.




USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating. After breaking an ascending channel, the price may continue falling to reach level of 0.8880.




USD JPY, “US Dollar vs Japanese Yen”

Yen is still falling. We think, today the price may reach level of 116.70, form another consolidation channel, and then continue moving inside the downtrend towards its local target at level of 115.00.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still growing. We think, today the price may break level of 0.7845 form an upside continuation pattern; this structure may be considered as the third wave with the target at level of 0.7950. After that, the pair may return to level of 0.7840 and then start forming the fifth ascending wave to reach level of 0.8056; this ascending movement may be considered only as a correction. Later, in our opinion, the market may continue moving inside the downtrend.




USD RUB, “US Dollar vs Russian Ruble”

Ruble has completed another descending structure and right now is forming a consolidation channel. We think, today the price may continue falling to break level of 62.00. The market is expected to form a descending wave with the target is at level of 55.00.




XAU USD, “Gold vs US Dollar”

Gold hasn’t been able to expand its trading range downwards so far; the market has returned into its consolidation channel. We think, today the price may test level of 1270 and then continue moving inside the downtrend with the local target at level of 1230.



 
RoboForex Analytical Department

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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.