Analysis for January 11th, 2017
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating at the top of the ascending structure; it has formed another descending impulse. Possibly, today the price may grow towards 1.0580. Later, in our opinion, the market may fall to break 1.0520 and then continue falling inside the downtrend with the target at 1.0430.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating near its lows. Possibly, today the price may reach 1.2100. After that, the instrument may move upwards with the target at 1.2256.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming another ascending impulse. At the moment, the price is expected to break 1.0168 to the upside. The target is at the 1.0214. Later, in our opinion, the market may consolidate and continue forming the wave to reach 1.0400.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is consolidating below 115.95. Possibly, today the price may reach 114.40 and then move upwards with the target at 115.95.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating at the top the ascending structure. The main scenario implies that the price may fall towards 0.7290 and then move upwards with the target at 0.7330.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is growing towards 60.66. After that, the instrument may fall to return to 59.95 and then continue the current correction to reach 62.00.
XAU USD, “Gold vs US Dollar”
Gold is growing; it has completed another wave. Possibly, the price may extend this structure towards 1194. This growth should be considered as the correction only. Later, in our opinion, the market may continue falling towards the local target at 1100.
Brent is still being corrected. The market broke 55.44 and right now is forming the third wave of the correction with the target at 53.50. After that, the instrument may form the fourth wave to reach 55.44 and then the fifth one towards 52.00.
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.