Analysis for January 24th, 2014
Euro reached level of 1.3600 and continues moving upwards inside ascending trend towards target at 1.4100. We should note, that this target may be reached without any serious corrections.
Pound is still moving inside ascending wave. We think, today price may reach level of 1.6680 and then start new correction towards level of 1.6475. Later, in our opinion, pair may continue moving inside ascending trend to reach level of 1.7400.
Franc is still falling down. We think, today pair may continue forming descending structure to break level of 0.8900. Later, in our opinion, pair may consolidate for a while and then continue moving inside descending trend towards level of 0.8300.
Yen is still forming the fifth descending structure towards level of 102.75. After reaching it, pair may start growing up and return to level of 104.00.
Australian Dollar is still falling down; market reached target at 0.8750. We think, today price may consolidate and break this level downwards. Main target of this descending movement is at level of 0.8400.
Gold broke its consolidation channel upwards. We think, today price may continue growing up towards level of 1277.
RoboForex Analytical Department