Article By RoboForex.com
Analysis for January 10th, 2017
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating at the top of the ascending structure; it has reached another new high. Possibly, today the price may form the descending impulse towards 1.0500. But the main target is of this descending structure at 1.0450. Later, in our opinion, the market may return to 1.0550 and then continue falling inside the downtrend. The target of this wave is at 1.0278.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has reached the target of the descending wave. Possibly, today the price may form another consolidation range at the lows. Possibly, the pair may reach 1.2100. After that, the instrument may be corrected to the upside with the target at 1.2465.
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USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the correctional structure. Possibly, today the price may grow with the target at 1.0200. Later, in our opinion, the market may break this level upwards and start forming another wave to reach 1.0400.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is forming the third wave inside the downtrend. Possibly, today the price may reach 114.71 or even extend this structure towards 114.40. After that, the instrument may be corrected to reach 115.95 and then continue falling with the target at 113.25.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is moving upwards; it has formed another ascending structure and, in fact, almost completed the five-wave structure. Possibly, today the price may reverse and start falling towards 0.7100. The first target is at 0.7315.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the target of the third descending wave. Possibly, today the price may continue the correction towards 62.46. After that, the instrument may form the fifth descending structure to reach 58.50.
XAU USD, “Gold vs US Dollar”
Gold is growing; it has completed another wave. Possibly, the price may extend this structure towards 1197. This growth should be considered as the correction only. Later, in our opinion, the market may continue falling towards the local target at 1100.
BRENT
Brent is still being corrected. Possibly, today the price may reach 54.95. Later, in our opinion, the market may form another ascending structure towards 56.32 and then fall with the target at 54.25.
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.