Analysis for January 9th, 2017
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is falling towards 1.0290. Possibly, today the price may form the first structure of this wave. The target is at 1.0450. Later, in our opinion, the market may be corrected with the target at 1.0540.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming another descending wave. The first target is at 1.2140. After that, the instrument may be corrected towards 1.2280.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is growing towards 1.0400. Possibly, today the price may form the first structure of this wave. The target is at 1.0255. Later, in our opinion, the market may be corrected to reach 1.0174.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the target of the ascending structure. Possibly, today the price may fall with the target at 114.80 and then start another correction to reach 116.68. In fact, the instrument is forming another consolidation range at the top of the ascending wave.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed the descending impulse along with the correction. Possibly, today the price may break the current consolidation range to the downside. The next target is at 0.7240. After that, the instrument may test 0.7284 from below and then fall towards 0.7215.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is forming the third descending wave with the target at 59.50. After the market opening, the price may reach 60.00 and then start another correction towards 62.50. After that, the instrument may fall to reach 58.50.
XAU USD, “Gold vs US Dollar”
Gold is consolidating at the top of its ascending wave. Possibly, today the price may break the lows and continue falling inside the downtrend towards 1100. The first target is at 1155.
Brent is growing with the target at 58.80. Later, in our opinion, the market may fall towards 57.50 and then continue moving upwards to reach 58.88.
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.