Analysis for February 4th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has broken triangle pattern upwards, expanded the channel, and reached the target. We think, today the price may return to 1.0900 and then start forming another ascending structure with the target at 1.1300. The market is forming the fourth corectional wave.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has almost reached the target of the correction. We think, today the price may fall to return to 1.4386. After that, the market may form another ascending structure towards 1.4687.
USD CHF, “US Dollar vs Swiss Franc”
Franc has almost completed its correction towards 0.9890. We think, today the price may return to 1.0107 to test it from below and then form another correctional structure with the target at 0.9960. Later, in our opinion, the market may continue growing inside the uptrend.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached another downside target. We think, today the price may return to 118.55 or even test 119.60 from below. After that, the market may start forming another descending structure with the target at 115.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has expanded its consolidation channel upwards and almost completed the third ascending wave. We think, today the price may return to 0.7000 and then form the fifth ascending structure to reach 0.7200.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is falling towards 76.00. Later, in our opinion, the market may form another consolidation channel, break it downwards, and reach 70.85.
XAU USD, “Gold vs US Dollar”
Gold has broken its consolidation channel upwards and expanded it. We think, today the price may return to 1126 and then form another ascending structure towards 1150.
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