Analysis for January 20th, 2016
Eurodollar is trying to form an ascending structure to expand its consolidation channel upwards. We think, today the price may reach 1.0910 and then grow towards 1.1012. However, this growth may be considered only as an alternative scenario, according to which the correction may yet continue.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound continues falling. We think, today the price may reach 1.4080 and then return to 1.4200. Later, in our opinion, the market may start another decline towards 1.3965.
USD CHF, “US Dollar vs Swiss Franc”Franc is still being corrected towards the target at 0.9940. We think, today the price may test 1.0020 from below and fall to reach the above-mentioned target. Later, in our opinion, the market may continue growing towards 1.0160.
USD JPY, “US Dollar vs Japanese Yen”Yen continues falling to reach 116.34. Later, in our opinion, the market may return to 117.70 and then continue falling inside the downtrend to reach 115.88.
AUD USD, “Australian Dollar vs US Dollar”Being under pressure, Australian Dollar is moving downwards. We think, today the price may reach 0.6786. An alternative scenario implies that the correction may continue towards 0.6989. However, according to the main scenario, the pair is expected to continue falling inside the downtrend to reach 0.6660.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble is moving near its highs. We think, today the price may expand this consolidation channel up to 81. Later, in our opinion, the market may start a new correction to reach 75.
XAU USD, “Gold vs US Dollar”Gold is attempting to grow towards 1095. Later, in our opinion, the market may return to 1089. If the consolidation channel is broken upwards, the price may reach 1112; if downwards – fall towards 1067.
RoboForex Analytical Department
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