Forex Technical Analysis & Forecast 16.01.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

16.01.2020

EURUSD, “Euro vs US Dollar”

EURUSD has reached 1.1160 while forming the third ascending wave. Today, the pair may correct to test 1.1140 from above and then form one more ascending structure with the short-term target at 1.1174.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the ascending wave at 1.3056. Possibly, today the pair may form a new descending structure to reach the short-term target at 1.2901.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving downwards. Today, the pair may correct to reach 0.9650 and then start a new decline with the target at 0.9614.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 109.87. According to the main scenario, the price is expected to resume trading downwards with the short-term target at 109.55.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After completing the correction at 0.6880 and breaking the correctional channel, AUDUSD is moving upwards to reach 0.6924. After that, the instrument may start another decline to return to 0.6880.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the ascending correction towards 61.61. Today, the pair may continue trading inside the downtrend with the target at 60.70.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

After breaking the consolidation range to the downside, USDCAD has completed the descending structure towards 1.3040. Possibly, today the pair may form one more ascending structure to reach 1.3055 and then resume falling with the target at 1.3030.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After finishing the ascending wave at 1558.05, Gold is consolidating near the highs. Possibly, the pair may expand the range up to 1559.00 and then continue trading inside the downtrend with the target at 1547.55.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is moving upwards to reach 65.00. Later, the market may start a new correction towards 64.40 and then resume trading inside the uptrend with the first target at 66.40.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still moving downwards to reach 8450.00. Possibly, the pair may reach this level and then start a new correction towards 8655.00, thus forming a new consolidation range. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 8960.00; it to the downside – resume falling with the target at 7900.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.