Analysis for January 15th, 2014
Euro is still being corrected. We think, today price may continue growing up to break level of 1.3686 and then continue moving upwards to reach target at 1.3800.
Pound is also still being corrected. We think, today price may move downwards to reach level of 1.6338, consolidate for a while, and then continue falling down towards level of 1.6265.
Franc completed its first descending structure and right now is moving back to level of 0.9066. Later, in our opinion, price may form another descending structure. Main target is at level of 0.8300.
Yen is growing up inside the fourth wave of current correctional structure. We think, today price may form the fifth wave, descending one. Target is at level of 102.75.
Australian Dollar is still forming descending wave; main target is at 0.8400. We think, today price may fall down towards level of 0.8700 and form consolidation channel to continue moving downwards.
Gold is still consolidating; market is trying to expand this consolidation channel downwards. Price may reach level of 1236. Later, in our opinion, instrument may continue its ascending movement towards level of 1277.
RoboForex Analytical Department