Analysis for February 27th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has reached its downside targets. We think, today the price may form an ascending structure to return to level of 1.1380. After that, the pair may form a consolidation channel. If the market breaks this channel upwards, it may continue growing to reach level of 1.1530; if downwards – fall to reach level of 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has almost finished extending its third ascending wave and formed a descending correctional impulse. We think, today the price may return to level of 1.5470 (at least) and then fall again towards level of 1.5288.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached the target of its ascending wave and right now is forming a descending structure, which may be considered as the part of a descending wave. We think, today the price may reach level of 0.9450, consolidate for a while, and then continue falling inside the downtrend towards next target at level of 0.9350.
USD JPY, “US Dollar vs Japanese Yen”
Yen has expanded its consolidation range upwards and right now is falling to test level of 119.00 from above. This movement may be considered as a new consolidation range. Later, in our opinion, the market may fall to test the lower border of triangle pattern.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has finished the third ascending wave and formed a descending impulse. The pair is expected to continue forming this impulse. We think, today the price may return to level of 0.7845 and then complete this correction by falling towards 0.7680. After that, the pair may form another ascending structure to reach a new high at level of 0.7935 and then continue falling inside the downtrend. the target is at level of 0.7570.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside a descending structure towards level of 58.00. After that, the pair may return to level of 63.00. Later, in our opinion, the market may continue falling inside the downtrend towards the target at 55.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. Possibly, the price may expand this channel upwards and start a correction. However, according to the main scenario the downtrend may continue towards level of 1113.
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