Analysis for January 26th, 2015
EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, the market was opened with a gap. Eurodollar has reached a new low and right now is trying to start a correctional impulse, which may reach level of 1.1300. Later, in our opinion, the price may continue moving inside the downtrend to reach the target at level of 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H4 chart, Pound is still forming a consolidation channel. Later, in our opinion, the market may continue falling to expand this channel towards level of 1.4870. After that, the pair may consolidate for a while again and then continue falling inside the downtrend. The next target is at level of 1.4800.
USD CHF, “US Dollar vs Swiss Franc”
As we can see at the H1 chart, Franc is growing slowly. We think, today the price may reach level of 0.8900, which may be considered as the upper border of this consolidation channel. Later, in our opinion, the market may move downwards to reach the lower border.
USD JPY, “US Dollar vs Japanese Yen”
As we can see at the H4 chart, Yen is still forming a consolidation channel. We think, today the price may fall to reach level of 115.00 and then return to level of 118.00. Later, in our opinion, the market may fall towards level of 115.00 again to break it downwards and then continue moving inside the downtrend.
AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H4 chart, the market was opened with a gap down and Australian Dollar continues forming a descending wave. We think, today the price may reach the next target at level of 0.7787. An alternative scenario implies that the pair may return to level of 0.8000 and then continue falling inside the downtrend.
USD RUB, “US Dollar vs Russian Ruble”
As we can see at the H1 chart, Ruble has rebounded from the lower border of its consolidation channel and right now is trying to return to the upper one. We think, today the price may continue falling to break the lower border and reach the first target at level of 55.00.
XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, Gold is moving downwards. We think, today the price may break its consolidation channel downwards and start forming the fifth descending wave. The first downside target is at level of 1209.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
GBP/USD remains on the defensive below 1.2450 ahead of UK Retail Sales data
GBP/USD remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar as the strong US economic data and hawkish remarks from the Fed officials have triggered the speculation that the US central bank will delay interest rate cuts to September.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Israel vs. Iran: Fear of escalation grips risk markets
Recent reports of an Israeli aerial bombardment targeting a key nuclear facility in central Isfahan have sparked a significant shift out of risk assets and into safe-haven investments.