Analysis for January 12th, 2017
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the ascending structure and right now is consolidating around 1.0590. Possibly, today the price may continue consolidating and fall towards 1.0560. The main scenario implies that the instrument may continue falling inside the downtrend. An alternative one suggest that the market may try to grow with the target at 1.0730.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has completed the ascending impulse and right now is forming another one. Possibly, today the price may break 1.2272. The local target is at 1.2400.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating around 1.0130. Possibly, today the price may continue forming this consolidation range. If later the market breaks this range to the upside, the instrument may continue growing inside the uptrend; if to the downside – start falling with the target at 1.0030.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the target of another descending wave. Possibly, today the price may return to 115.95 and then move downwards with the target at 113.21.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has expanded its consolidation range to the upside. Possibly, today the price may return to 0.7400 and form another consolidation range to fall with the target at 0.7300.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has completed the correction towards 59.50. After that, the instrument may grow to return to 60.66 and start another correction to reach 62.00.
XAU USD, “Gold vs US Dollar”
Gold is growing. Possibly, the price may reach 1209. Later, in our opinion, the market may continue falling towards 1170.
Brent has reached the target of the third correctional wave and right now is forming the fourth one with the target at.56.00. After that, the instrument may fall in the fifth wave to reach 53.00 and complete the correction. Later, in our opinion, the market may start growing to reach 59.90.
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.