Analysis for January 22nd, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving downwards. We think, today the price may reach 1.0820, return to 1.0850, and then fall towards 1.0792. Later, in our opinion, the market may consolidate for a while, break the channel downwards, and then continue falling to reach 1.0682.
GBP USD, “Great Britain Pound vs US Dollar”
After reaching 1.4080, Pound has started an ascending impulse. Possibly, the pair may extend the impulse up to 1.4280 and then form a descending correction towards 1.4180, thus forming another consolidation channel. If the channel is broken upwards, the price may be corrected up to 1.4600; if downwards – continue falling to reach 1.3965.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming an ascending wave. We think, today the price may form another structure with the target at 1.0133 and then test 1.0100 from above. Later, in our opinion, the market may continue growing towards 1.0160.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its ascending impulse, broken its consolidation channel upwards, and right now is trying to return to 118.54 or even 119.60. However, this growth should be considered only as a correction. The main scenario implies that the price may continue falling to reach 115.85.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached its upside target. Right now, the price is consolidating and may extend this correction up to 0.7151. After that, the market may fall inside the downtrend. The main target is at 0.6600.
USD RUB, “US Dollar vs Russian Ruble”
The market was opened with a gap down. Russian Ruble is still following the oil market. We think, the price may reach 77.50 and then start a new correction towards 81.66.
XAU USD, “Gold vs US Dollar”
Gold has completed the correction and formed an ascending impulse. Possibly, the price may move according to an alternative scenario, which suggests that it may reach 1121. The main scenario remains the same and implies that the market may continue falling inside the downtrend to reach 1015.
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 Members Area.