Analysis for February 9th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues consolidating at the top of its ascending structure. We think, today the price may grow to reach new highs at 1.1300, thus completing this ascending wave. After that, the market may continue falling inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached the target of the correction. We think, today the price may grow towards 1.4727. Later, in our opinion, the market may return to 1.4385.
USD CHF, “US Dollar vs Swiss Franc”
Franc has expanded its consolidation channel downwards. Possibly, the price may fall towards 0.9720. Later, in our opinion, the market may return to 1.0130.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its descending wave. Possibly, the price may extend it towards 113.00, thus completing this wave. After that, the market may form a new correction to return to 120.70.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is falling with the target at 0.6940. After reaching it, the price is expected to return to 0.7100 and then continue falling inside the downtrend towards 0.6660.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is moving upwards. In fact, the price is still being corrected towards 80.00. Later, in our opinion, the market may start falling to reach 70.84.
XAU USD, “Gold vs US Dollar”
Gold has reached the target of its ascending wave. We think, today the price may consolidate at the top, break the lows, and then fall towards 1117.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.