Forex Technical Analysis & Forecast 14.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

February 14, 2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the correction towards 1.0888 and then breaking 1.0858 to the downside, EURUSD has formed a downside continuation pattern. Possibly, pair may continue falling to reach 1.0828. After that, the instrument may start another correction to test 1.0858 from below and then resume trading inside the downtrend with the target at 1.0799.

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 completed the ascending structure; right now, it is consolidating around 1.3034. If later the price breaks this range to the downside, the instrument may start a new correction to break 1.3000 and then continue trading downwards with the target at 1.2944.

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

USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9784 upwards, USDCHF has tested it from above. The main scenario implies that the pair may continue trading upwards to reach 0.9809. After that, the instrument may start a new correction towards 0.9794 and then form one more ascending structure with the target at 0.9828.

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 has finished the descending impulse towards 109.61; right now, it is growing to reach 109.90. Later, the market may form a new descending structure towards 109.75, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the instrument may start another decline towards 109.25; if to the upside – form one more ascending structure with the target at 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 completing the correction at 0.6742, AUDUSD has broken the correctional channel downwards. Possibly, the pair may trade downwards to break 0.6703 and then continue falling with the short-term target at 0.6680.

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 finished the descending impulse at 62.91 along with the correction towards 63.77. Today, the pair may form a new descending impulse to break 62.81 and then continue trading inside the downtrend with the short-term target at 61.88.

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

USDCAD, “US Dollar vs Canadian Dollar”

After completing the descending impulse towards 1.3235, USDCAD has broken this impulse’s channel upwards. Possibly, the pair may grow towards 1.3292 and then fall to return to 1.3264, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the instrument may start a new decline towards 1.3188; if to the upside – form one more ascending structure to reach 1.3344.

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 moving upwards. Today, the pair may reach 1581.54 and then start a new correction towards 1573.21. After that, the instrument may resume trading upwards with the target at 1584.58.

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

BRENT

Brent has reached its short-term target at 56.30; right now, it is consolidating below it. If later the price breaks this range to the downside, the instrument may start a new correction towards 55.05; if to the upside – resume trading inside the uptrend with the target at 57.12.

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

BTCUSD, “Bitcoin vs US Dollar”

After finishing the descending impulse towards 10052.00, BTCUSD has completed the correction at 10300.00, thus forming a new consolidation range. According to the main scenario, the pair may break the range to the downside and resume falling with the short-term target at 9800.00.

BTCUSD

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.