Forex Technical Analysis & Forecast 17.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
After finishing the correction towards 1.0858, EURUSD has completed another descending wave at 1.0830. Possibly, today the pair may correct to reach 1.0845 and then start a new decline to break 1.0820. After that, the instrument may continue trading inside the downtrend with the target at 1.0800.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed the correction at 1.3000; right now, it is moving upwards to reach 1.3054. Later, the market may start a new decline towards 1.3027 and then resume trading upwards with the target at 1.3070.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is moving upwards. The main scenario implies that the pair may reach 0.9826. After that, the instrument may start a new decline towards 0.9802 and then form one more ascending structure with the target at 0.9841.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is consolidating around 109.78 without any particular direction. If later the price breaks this range to the downside, the instrument may start another decline towards 109.64; if to the upside – form one more ascending structure with the target at 109.97.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating around 0.6719. Possibly, the pair may trade upwards to reach 0.6730 and then resume falling to break 0.6700. Alter that, the instrument may continue moving downwards with the short-term target at 0.6685.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating above 63.33. Possibly, the pair may break the range t the downside and then continue trading inside the downtrend with the target at 62.81.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is consolidating around 1.3251. Today, the pair may fall towards 1.3232 and then grow to reach 1.3252. Later, the market may form a new descending structure with the target at 1.3200.
XAUUSD, “Gold vs US Dollar”
After reaching the target at 1584.58, Gold is consolidating above 1579.95. Possibly, the pair may break this range to the downside and then start a new correction towards 1573.20.
BRENT
Brent has reached its upside target at 57.50. Possibly, today the pair may correct with the first target at 56.52 and then form one more ascending structure towards 57.00. Later, the market may continue the correction with the target at 55.55.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is still correcting with the first target at 9500.00. After that, the instrument may start another growth towards 9900.00 and then continue the correction with the short-term target at 9200.00.
