Analysis for January 21st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating; the pair is trying to recover after yesterday’s decline. We think, today the price may reach 1.0912 and then fall towards 1.0840. Later, in our opinion, the market may return to 1.0895.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving near its lows without any particular direction. We think, today the price may continue falling to reach 1.4080. Possibly, the pair may grow a little bit towards 1.4234 to test it from below and then continue moving to reach the target. Later, in our opinion, the market may start another correction towards 1.4280.
USD CHF, “US Dollar vs Swiss Franc”
Franc is forming a descending correction with the target at 1.0020. Later, in our opinion, the market may continue growing towards 1.0160.
USD JPY, “US Dollar vs Japanese Yen”
Yen has returned to 117.47 to test it from below and reached its downside target; it looks like the pair has completed the correction, a three-wave one so far. Possibly, the price may form another ascending structure towards 117.70. Later, in our opinion, the market may continue falling to reach 115.85.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is consolidating. We think, today the price may continue falling to reach 0.6781 and then return to 0.6889. After that, the market may fall towards the local target at 0.6660.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is still influenced by the oil prices. We think, today the price may reach 82.70. Later, in our opinion, the market may start a new correction to reach 78.70 to test it from above.
XAU USD, “Gold vs US Dollar”
Gold has broken 1096 upwards and may continue this wave towards 1121. Later, in our opinion, the market may fall to return to 1084. This descending structure may be considered as the continuation of the downtrend towards 1015.
RoboForex Analytical Department
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