Forex Technical Analysis & Forecast 09.02.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trading inside the Expanding Triangle pattern; the market is expected to form the fourth wave with the target at 1.0726. Possibly, today the price may fall towards 1.0672 or even 1.0655. After that, the instrument may grow to reach 1.0726 and then start another decline towards 1.0614.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating at the top of ascending impulse. If the price breaks it to the upside, the market may reach 1.2636; it to the downside – fall towards 1.2386.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is being corrected. Possibly, today the price may fall inside the fifth wave to reach 0.9922 and then grow towards 1.0036. Later, in our opinion, the market may start another decline with the target at 0.9955.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is consolidating; it has almost formed the inverted Double Top pattern. Possibly, today the price may break 112.59 upwards. The upside target is at 113.51. After that, the instrument may fall towards 112.60.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming another descending impulse. Possibly, the price may reach 0.7593 and then grow towards 0.7640. After that, the instrument may continue falling with the target at 0.7550.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is expected to fall towards 58.50. Later, in our opinion, the market may grow to reach 59.40 and then fall with the target at 58.25.
XAU USD, “Gold vs US Dollar”
Gold is consolidating. Possibly, today the price may break this consolidation range to the downside. The first target is at 1211.60.
BRENT
Brent is being corrected towards 54.48. Possibly, today the price may form the fourth structure of this correction to return to 55.99. Later, in our opinion, the market may form the fifth one with the target at 54.48.
RoboForex Analytical Department
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.