Analysis for January 27th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar has completed its ascending structure as a correction. We think, today the price may form another descending wave to reach 1.0810 and then return to 1.0844 once again. In fact, the pair is moving inside a triangle consolidation channel. The main scenario suggests that the market may break the channel downwards and then continue falling inside the downtrend to reach the local target at 1.0400. The first target is at 1.0682.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is growing towards the upper border of its consolidation channel. Possibly, the price may break 1.4364 and form a continuation pattern. The local target is at 1.4553. Later, in our opinion, the market may test 1.4364 from above.
USDCHF, “US Dollar vs Swiss Franc”
Franc has almost completed the upside continuation pattern. We think, today the price may break 1.0200. The pair isn’t expected to fall until it reaches 1.0530. The predicted local target is at is at 1.0320.
USDJPY, “US Dollar vs Japanese Yen”
Yen is consolidating at the top of its ascending impulse. The market may both grow to reach 119.16 and fall towards 117.52. These levels may be considered as the borders of the consolidation channel. If the channel is broken downwards, the price may reach 115.00; if upwards – continue the correction up to 119.88.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has almost completed the correctional wave with the target at 0.7050. We think, today the price may continue falling inside the downtrend. The local target is at 0.6660.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is falling towards 76.00. After that, the pair may consolidate and break this level downwards. The local target is at 71.30.
XAUUSD, “Gold vs US Dollar”
Gold has almost reached the target of its ascending wave. We think, today the price may form a new consolidation channel, break it downwards to fall and reach 1096. This would be the first of the wave to continue the downtrend.
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