Analysis for January 17th, 2014
Euro is still forming consolidation channel. We think, today price may continue growing up to break level of 1.3700, consolidate for a while, and then move upwards to reach target at 1.3800.
Pound is still falling down. We think, today price may reach level of 1.6300 and then start new ascending movement towards level of 1.6430.
Franc is also falling down. We think, today pair may continue forming its descending wave with target at 0.8900. This wave may be considered as continuation of descending movement towards level of 0.8300.
Yen is still consolidating near level of 104.35. Later, in our opinion, price may form new descending structure to reach level of 103.00.
Australian Dollar continues moving inside descending structure with target at 0.8750. After reaching it, pair may consolidate near it for a while and then continue moving downwards to reach target at 0.8400.
Gold is still moving below level of 1248.88. We think, today price may grow up to break this level and expand its trading range upwards. Later, in our opinion, instrument may continue its ascending movement towards target at 1277.
RoboForex Analytical Department