Analysis for January 28th, 2014
Euro is still consolidating near level of 1.3700. We think, today price may leave this consolidation channel upwards to reach level of 1.3800 and then form new consolidation channel close to this level. Later, in our opinion, pair may continue growing upwards to reach main target at 1.4100.
Pound is still forming the fifth ascending structure towards level of 1.6680. Later, in our opinion, market may form descending correction to reach level of 1.6475 (at least) or even 1.6255.
Franc is still forming consolidation channel. We think, today price may leave it downwards and continue falling down towards level of 0.8885. Later, in our opinion, pair may return to level of 0.8950 and then continue moving inside descending trend towards target at 0.8300.
Yen is being corrected towards level of 103.30. After reaching this level, pair may continue falling down towards level of 101.70.
Australian Dollar is returning to level of 0.8770. Later, in our opinion, price may complete this descending movement by falling down and reaching level of 0.8400, and then start new and more serious correction to return to level of 0.9080.
Gold completed its first correctional structure towards level of 1230. We think, today price may move upwards to return to level of 1265 and then fall down to reach local target at 1240.
RoboForex Analytical Department