Analysis for January 16th, 2017
EUR USD, “Euro vs US Dollar”
The trading session has been opened with a gap to the downside; right now, the EUR/USD pair is consolidating. The main scenario still implies that the instrument may continue falling towards the next target at 1.0500. An alternative scenario suggests that the market may grow to reach 1.0750.
GBP USD, “Great Britain Pound vs US Dollar”
The trading session has been opened with a gap to the downside; the GBP/USD pair has reached a new low and may extend this wave up to 1.1960. After that, the instrument may start growing towards 1.2200.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating. Possibly, the price may break this range to the upside and reach 1.0200. An alternative scenario suggests that the market may fall towards 1.0030.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is falling towards 113.42. Later, in our opinion, the market may be corrected to reach 115.50 and then move downwards to return to 112.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating. If later the market breaks this range to the downside, the instrument may continue falling to reach 0.7350; if to the upside – extend this structure up to 0.7550.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is expected to grow towards 60.30. Later, in our opinion, the market may form another descending structure with the target at 58.77.
XAU USD, “Gold vs US Dollar”
Gold is still growing and extending the correctional wave. Possibly, the price may test 1215 from above. Later, in our opinion, the market may form the fifth wave to reach the local target at 1100.
Being under pressure, Brent is moving downwards. Possibly, today the price may form the fifth wave of the correction with the target at 53.05 and complete the flag pattern. After that, the instrument may start growing to reach 59.90.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.