Analysis for February 22nd, 2016
EUR USD, “Euro vs US Dollar”
The euro dollar currency pair is now under pressure to decline. With the breakdown of minimums, we consider the continued decline to the level of 1.1000. In practice, the market trades the first wave of reduction to the level of 1.0900. Now the whole structure is lined with lows updates through consolidation ranges. The market has not yet performed a correction to this decrease and at any time the pair can go to test below 1.1250. Then - again a continuation of the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
The pound to US dollar currency pair is trading under pressure to decline. The structure has a three wave character. We do not rule out the development of the fifth wave in the testing of the level of 1.4700. Then - with the trend, a decline to the level of refinement of 1.3850. But if the market will be able to update the lows in the current structure of the reduction, it immediately opens the potential for a continued downward trend with working the main target of decline.
USD CHF, “US Dollar vs Swiss Franc”
The dollar franc currency pair performed almost a return to the centre of the consolidation range. With an upgrade of the maximum of the range, the testing of the potential level of 1.0127 will be opened. With the breakdown through the minimum, the market can go in a correction to the level of 0.9730.
USD JPY, “US Dollar vs Japanese Yen”
The dollar yen currency pair stretched the structure of the correction. The next step - the fifth component of the growth to the level of 115.50. Then the wait for its termination. Next in line - reduction back to the level of 113.00. Therefore we expect the formation of a broad consolidation structure. With a break down we consider the continuation of the downward trend, with a break up - correction to the level of 120.70.
AUD USD, “Australian Dollar vs US Dollar”
Australian dollar against the US dollar was trading virtually within a consolidated range. Today we consider the possibility of expanding its upper limit to the level of 0.7236. Next - a return to the level of 0.7060. And we assume another maximum update. Here, the completion of the planned wave of growth. The next step - a continuation of the trend to decline to the level of 0.6660.
USD RUB, “US Dollar vs Russian Ruble”
Russian ruble will not be traded today and tomorrow. The market is closed on the occasion of the Defender of the Fatherland day.
XAU USD, “Gold vs US Dollar”
Gold is now trading under pressure to decline. We do not exclude one more emission of the price to the level of 1243. Next in line - the main scenario for the continuation of the trend to decline to the level of 1117.
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