Analysis for January 28th, 2016
EURUSD, “Euro vs US Dollar”
Being influenced by the news, Eurodollar has completed another ascending structure. We think, today the price may fall towards 1.0845 and then (an alternative scenario) form another ascending structure to reach 1.0930, thus completing the extension of the correctional wave. Later, in our opinion, the market may continue falling inside the downtrend. The main target is at 1.0300.
GBPUSD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is moving downwards. We think, today the price may reach 1.4174 and then return to 1.4276. In fact, the market is going to consolidate for a while.
USDCHF, “US Dollar vs Swiss Franc”
Franc is moving above 1.0160. We think, today the price may continue growing to reach the local target at 1.0330.
USDJPY, “US Dollar vs Japanese Yen”
Yen is expanding its consolidation channel towards 119.55. Later, in our opinion, the market may form another descending wave to reach 115.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has completed the descending impulse and corrected it. We think, today the price may form another impulse to break the minimum of the first one and then continue falling inside the downtrend towards 0.6660.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is falling towards 76.00. After that, the pair may consolidate, break this level downwards, and form the third descending wave. The target is at 71.30.
XAUUSD, “Gold vs US Dollar”
Gold has almost reached the target of its ascending wave and right now is consolidating. We think, today the price may form a descending structure to reach 1113 and then return to 1124. Later, in our opinion, the market may form another descending structure with the target at 1095.
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