Analysis for January 25th, 2016
Eurodollar being corrected towards Friday’s decline. We think, today the price may grow to reach 1.0830 and then fall towards 1.0757. Later, in our opinion, the market may consolidate for a while and then continue falling to reach 1.0682.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is forming a correctional structure towards 1.4213, thus forming a consolidation channel. If the channel is broken upwards, the price may be corrected up to 1.4660; if downwards – continue falling to reach new lows and extend this structure towards 1.3820.
USD CHF, “US Dollar vs Swiss Franc”Franc has almost completed the ascending wave, the third one. The price may form both a narrow consolidation channel and break it upwards, and the correction with the target at 1.0080. Later, in our opinion, the market may continue growing to extend the third wave. The next target is at 1.0200. After that, the pair may test 1.0160 from above and then continue growing to reach 1.0320.
USD JPY, “US Dollar vs Japanese Yen”Yen is moving inside its narrow consolidation channel at the top of the ascending structure. Possibly, the price may break it upwards and reach 119.35 (an alternative scenario). The main scenario suggests that the market may continue falling inside the downtrend to reach 115.00.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is consolidating at the top of its ascending wave. We think, today the price may break the channel downwards to continue falling inside the downtrend to reach 0.6600. However, if the channel is broken upwards (an alternative scenario), the correction may be extended up to 0.7153. After that, the pair may continue moving downwards.
USD RUB, “US Dollar vs Russian Ruble”The market was opened with a gap down. Russian Ruble is strengthening, following the oil market growth. We think, the price may reach 76 and then start a new correction towards 80. After that, the pair start forming the third descending wave with the target at 70.
XAU USD, “Gold vs US Dollar”Gold is growing to break 1100.40 upwards. Possibly, the price may extend this structure up to 1120.90 or even 1124.55, thus completing the current correction. Later, in our opinion, the market may continue falling inside the downtrend to reach 1015.00.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Live Account.