Analysis for January 19th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has broken its consolidation channel downwards and right now is falling to reach 1.0840. Later, in our opinion, the market may be corrected towards 1.0910 to test it from below and then form another descending structure with the target at 1.0682. This would be only a half of this descending wave.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure to continue its decline, Pound is moving close to the current lows; in fact, the pair is forming another consolidation channel. If the channel is broken downwards, the wave may be extended up to 1.4080; if upwards – the price may be corrected to reach 1.4355.
USD CHF, “US Dollar vs Swiss Franc”
Franc has formed another consolidation channel in the form of triangle pattern and broken it upwards. We think, today the price may continue growing towards 1.0096 and then fall to reach 1.0030 (as a correction). Later, in our opinion, the market may form another structure towards 1.0160.
USD JPY, “US Dollar vs Japanese Yen”
Yen has almost completed the correction with the target at 117.95. Possibly, it may be extended up to 118.50. Later, in our opinion, the market may consolidate and then continue falling inside the downtrend to reach the local target at 116.34.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is testing its broken consolidation channel from below. This structure may be considered as a downside continuation pattern. The local target is at 0.6660. Later, in our opinion, the market may return to 0.6910.
USD RUB, “US Dollar vs Russian Ruble”
Being influenced by the oil prices, Russian Ruble is moving downwards. We think, today the price may return to 77.00 and then grow to reach 79.70. Later, in our opinion, the market may start another decline with the target at 70.00.
XAU USD, “Gold vs US Dollar”
Gold is falling to break 1088. We think, today the price may reach 1077 and then return to 1088. Later, in our opinion, the market may continue falling inside the downtrend to reach 1064.
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
EUR/USD retreats toward 1.0650 after PMI-inspired rebound
EUR/USD loses traction and retreats to the 1.0650 area after rising toward 1.0700 with the immediate reaction to the upbeat PMI reports from the Eurozone and Germany. The cautious market stance helps the USD hold its ground ahead of US PMI data.
GBP/USD fluctuates near 1.2350 after UK PMIs
GBP/USD clings to small daily gains near 1.2350 in the European session on Tuesday. The data from the UK showed that the private sector continued to grow at an accelerating pace in April, helping Pound Sterling stay resilient against its rivals.
Gold flirts with $2,300 amid receding safe-haven demand
Gold (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark in the European session. Eyes on US PMI data.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.