Article By RoboForex.com
Analysis for January 5th, 2017
The EUR/USD pair has completed the correction and right now is moving upwards. Possibly, today the price may reach 1.0450 and then start forming another consolidation range. After breaking this range to the downside, the instrument may continue falling inside the downtrend to reach 1.0150.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming another consolidation range. Possibly, today the price may grow 1.2367 and then fall to reach 1.2277. If later the market beaks this range to the upside, it may grow towards 1.2440; if to the downside – reach the target at 1.2179.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/CHF pair is moving downwards. Possibly, the price may reach 1.0137 and then grow with the target at 1.0235, thus forming another consolidation range. The main scenario implies that the instrument may continue growing to reach 1.0430.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has rebounded from the upside border of the consolidation range and then reached the downside one. Possibly, today the price may grow with the target at 117.25.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is moving upwards; this structure may be considered as the correctional one. Possibly, today the price may reach 0.7345 and then fall towards 0.7100. After that, the instrument may extend this structure to reach 0.7050.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is forming the third descending wave with the target at 59.50. After the market opening, the price may reach 60.00 and then start another correction towards 62.50. After that, the instrument may fall to reach 58.50.
XAU USD, “Gold vs US Dollar”
Gold has completed the ascending structure. Possibly, today the price may start forming another consolidation range. The instrument is expected to fall with the target at 1148.
Being under pressure, Brent is growing and forming the wave with the target at 58.80. Later, in our opinion, the market may be corrected towards 56.00 and then move upwards to reach 59.90.
RoboForex Analytical Department
Article By RoboForex.com
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.