Analysis for January 13th, 2016
EUR USD, “Euro vs US Dollar”
Being under pressure, Eurodollar continues falling. We think, today the price may reach the target at 1.0790 and then return to 1.0880. Later, in our opinion, the market may start forming another descending wave to reach 1.0682.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has extended its descending wave towards the very important target and almost completed it; the pair has formed an ascending impulse, which may turn into a proper correction. We think, today the price may fall and correct this impulse towards 1.4425, and then form the second ascending impulse to break the maximum of the first one. The target of the first wave of the correction is at 1.4570.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc continues moving upwards. We think, today the price may reach 1.0100 and then return to 0.9970. Later, in our opinion, the market may continue growing towards 1.0190.
USD JPY, “US Dollar vs Japanese Yen”
Yen has broken its narrow consolidation channel upwards and may test 118.50 from below. Later, in our opinion, the market may continue falling inside the downtrend towards 115.85 and then start a new correction to return to 117.55.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving to test 0.7070 from below. Later, in our opinion, the market may continue falling inside the downtrend to reach 0.6900. After that, the pair may consolidate for a while and then continues its decline towards 0.6790.
USD RUB, “US Dollar vs Russian Ruble”
Following the oil prices decline, Russian Ruble has reached another new high. We think, today the price may form a wide consolidation range and fall towards 74.40. Later, in our opinion, the market may form another ascending structure with the target at 78.80.
XAU USD, “Gold vs US Dollar”
Gold hasn’t been able to continue moving upwards according to an alternative scenario. Right now, the instrument is forming another structure inside the downtrend to reach 1073.85; in fact, it looks like the price is returning inside its consolidation channel. Later, in our opinion, the market may fall to expand this channel downwards to reach 1015.00.
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 clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.