Forex Technical Analysis & Forecast 12.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

February 12, 2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has finished the ascending impulse from 1.0891. Possibly, today the pair may correct from 1.0924 to 1.0907, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure with the first target at 1.0955; if to the downside – start another decline to return to 1.0891.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”


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GBPUSD has formed another consolidation range around 1.2940; right now, it is trading upwards. Possibly, the pair may break the range to reach 1.2988 and continue the correction (an alternative scenario). The main scenario implies that the price may fall to break 1.2945 and then continue moving downwards with the target at 1.2855.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has broken 0.9760 downwards. Possibly, the pair may correct towards 0.9728 and then start another growth to break 0.9788. After that, the instrument may continue trading upwards with the target at 0.9829.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming a narrow consolidating range around 109.71 in the form of a triangle. If later the price breaks this range to the downside at 109.60, the instrument may start a new correction with the target at 109.25; if to the upside at 109.90 – form one more ascending structure towards 110.22.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After forming another consolidation range around 0.6707, AUDUSD has broken it to the upside. Today, the pair may continue trading upwards to reach 0.6745 and then start a new descending structure with the target at 0.6707.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending impulse towards 63.25. Possibly, today the pair may correct to reach 63.80 and then start a new decline with the short-term target at 62.70.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving downwards. Possibly, the pair may reach 1.3233 and then resume trading upwards with the target at 1.3288, thus forming a new consolidation range. If later the price breaks this range to the downside, the instrument may start a new correction towards 1.3155; if to the upside – form one more ascending structure to reach 1.3345.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1567.90. Today, the pair may fall to reach 1558.45 and then resume trading upwards to return to 1567.90.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is moving upwards. Possibly, the pair may reach 55.15 and then form a new descending structure towards 54.10. If later the price falls and breaks 53.90, the instrument may continue falling with the target at 52.50; if grows and breaks 55.20 – form one more ascending structure to reach 56.45.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has completed the ascending structure at 10300.00, thus almost reaching the short-term upside target; right now, it is consolidating close to the highs. According to the main scenario, the pair is expected to fall to break 9800.00 and continue the correction with the target at 8500.00, at least.

BITCOIN

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.