Analysis for January 18th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar is forming another descending structure. We think, today the price may reach 1.0840 and then start a correction towards 1.0911. Later, in our opinion, the market may continue falling to break 1.0682. The local target of this descending wave is at 1.0400.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is still falling and reaching new lows. The downtrend may continue towards 1.4000. An alternative scenario implies that the pair may consolidate and form a correction with the target at 1.4400. Later, in our opinion, the market may continue inside the downtrend.
USDCHF, “US Dollar vs Swiss Franc”
Franc is forming another ascending structure. We think, today the price may reach 1.0960. Later, in our opinion, the market may be corrected towards 1.0030 and then resume its growth to reach 1.0160.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still consolidating in the center of the channel. The main scenario suggests that the price may fall to break the minimum. The local target of this wave is at 115.33. Later, in our opinion, the market may consolidate and then continue falling inside the downtrend to reach 115.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is forming another descending structure; the local target is at 0.6660. Right now, the pair is testing 0.6910 from below. Later, in our opinion, the market may continue falling inside the downtrend to break 0.6700.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is extending its ascending structure; the pair has reached the target at 78.50. Possibly, this extension may reach 79.90. In fact, the market is following the oil prices decline. The price isn’t expected to form a reversal pattern until the pair breaks the ascending channel.
XAUUSD, “Gold vs US Dollar”
Gold has corrected its descending wave. We think, today the price may fall towards 1080.84 and then consolidate. Later, in our opinion, the market may break this consolidation channel downwards and continue falling inside the downtrend to reach 1064.00.
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