Forex Technical Analysis 20.01.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

January 20, 2016

Article By RoboForex.com

Analysis for January 20th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is trying to form an ascending structure to expand its consolidation channel upwards. We think, today the price may reach 1.0910 and then grow towards 1.1012. However, this growth may be considered only as an alternative scenario, according to which the correction may yet continue.

GBP USD, “Great Britain Pound vs US Dollar”

Pound continues falling. We think, today the price may reach 1.4080 and then return to 1.4200. Later, in our opinion, the market may start another decline towards 1.3965.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still being corrected towards the target at 0.9940. We think, today the price may test 1.0020 from below and fall to reach the above-mentioned target. Later, in our opinion, the market may continue growing towards 1.0160.

USD JPY, “US Dollar vs Japanese Yen”

Yen continues falling to reach 116.34. Later, in our opinion, the market may return to 117.70 and then continue falling inside the downtrend to reach 115.88.


Free Reports:

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





AUD USD, “Australian Dollar vs US Dollar”

Being under pressure, Australian Dollar is moving downwards. We think, today the price may reach 0.6786. An alternative scenario implies that the correction may continue towards 0.6989. However, according to the main scenario, the pair is expected to continue falling inside the downtrend to reach 0.6660.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is moving near its highs. We think, today the price may expand this consolidation channel up to 81. Later, in our opinion, the market may start a new correction to reach 75.

XAU USD, “Gold vs US Dollar”

Gold is attempting to grow towards 1095. Later, in our opinion, the market may return to 1089. If the consolidation channel is broken upwards, the price may reach 1112; if downwards – fall towards 1067.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

InvestMacro

InvestMacro is a finance website dedicated to helping investors make better informed decisions through educational content and products