Analysis for January 12th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside the third ascending structure with the target at level of 1.1880. After reaching it, the price may fall towards level of 1.1822 (at least) and then form another ascending structure with the target at level of 1.1890. The whole structure may be considered as a correction. Later, in our opinion, the market may continue falling inside the downtrend. The next target is at level of 1.1740.
GBP USD, “Great Britain Pound vs US Dollar”
It looks like Pound is trying to form a correction towards level of 1.5200. Later, in our opinion, the market may continue falling towards level of 1.500. Possibly, the price may try to form another ascending structure towards level of 1.5250.
USD CHF, “US Dollar vs Swiss Franc”
It looks like Franc is being corrected; at the moment the pair is forming the third descending wave with the target at level of 1.0110. After reaching it, the price may return to level of 1.0160 and then start another descending structure towards level of 1.0100, thus forming flag
pattern, which may be considered as a correctional one. Later, in our opinion, the market may start a new ascending movement to reach a new high and level of 1.0224.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving inside the fifth structure towards level of 118.00. After reaching it, the price may form a structure to return to level of 119.40, which may be considered as a part of the movement towards level of 121.40. Later, in our opinion, the market may continue falling inside the downtrend.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving upwards; the pair has broken its descending channel and reached the target. After breaking an ascending channel, the price may continue falling. The next target is at level of 0.8000.
USD RUB, “US Dollar vs Russian Ruble”
Being influenced by decline of oil prices, Ruble has reached the target of the fourth wave of its correction. We think, today the price may start forming a reversal pattern to continue falling. The market is expected to start the fifth descending wave to reach level of 44.00.
XAU USD, “Gold vs US Dollar”
Gold continues growing to reach the target at 1250. We think, the current wave may reach level of 1232. Later, in our opinion, the market may fall towards level of 1200 and then continue goring towards the above-mentioned target.
RoboForex Analytical Department