Analysis for January 13th, 2017
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has attempted to break the high. An alternative scenario suggests that the market may continue growing inside the third wave with the target at 1.0725. By now, the price has broken 1.0630 to the downside; there is a reversal pattern at the top. The main scenario implies that the instrument may continue falling towards 1.0560.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming another descending structure with the target at 1.2120. After that, the instrument may grow towards 1.2220 and then start another decline to reach 1.2020. An alternative scenario suggests that the market may break 1.2250 and then reach 1.2370.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is growing towards 1.0130. Later, in our opinion, the market may form another descending wave as an alternative to the third one. The target is at 1.0030. The main scenario implies that the instrument may reach 1.0200.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is growing towards 115.50 to test it from below. Later, in our opinion, the market may fall to reach 113.57 and then return to 115.95.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating at the top of its ascending structure. Possibly, today the price may break the range to the downside and return to 0.7320.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached a new low. In fact, the instrument has defined the borders of another consolidation range. Possibly, today the price may move upwards with the target at 61.66.
XAU USD, “Gold vs US Dollar”
Gold has completed the descending impulse. Possibly, today the price may be corrected to reach 1198. Later, in our opinion, the market may break the low of this impulse. The instrument is expected to start a new correction with the target at 1162.
Brent has reached the target of the fourth correctional wave. Possibly, today the price may form the fifth one with the target at 53.00 and complete the correction. After that, the instrument 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.