Analysis for January 26th, 2016
Eurodollar has reached the minimum target of the correction and right now is consolidating at the top of the ascending wave. We think, today the price may continue falling inside the downtrend. An alternative scenario implies that the pair may extend the correction towards 1.0900 and then move downwards to reach 1.0682.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has reached the target of its descending correction; however, this structure may continue up to 1.4174. Later, in our opinion, the market may form an ascending structure towards 1.4364 and then start consolidating. If the channel is broken upwards, the price may reach 1.4480.
USD CHF, “US Dollar vs Swiss Franc”Franc is moving inside its consolidation channel. Possibly, the price may break it downwards to reach 1.0110 as a correction, which may continue up to 1.0080. Later, in our opinion, the market may grow to break 1.0160. The upside target is at 1.0320.
USD JPY, “US Dollar vs Japanese Yen”Yen is still falling towards 116.84. We think, today the price may reach 117.50 and then test 118.16 from below. Later, in our opinion, the market may fall towards 116.84.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is moving downwards to reach the target at 0.6900. We think, today the price may reach 0.6930 and then return to .06980. After that, the pair may continue falling towards the above-mentioned target.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble is being corrected to return to 83. After that, the pair start forming another descending wave to break 76. The main target is at 71.
XAU USD, “Gold vs US Dollar”Gold is growing towards its local target at 1118.30. After reaching it, the price may return to 1106.80 and then form another ascending structure towards 1121.00, thus completing this wave. Later, in our opinion, the market may continue falling inside the downtrend. The first target is at 1095.00.
RoboForex Analytical Department
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