Forex Technical Analysis 27.01.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

January 27, 2014

EUR/USD

Euro continues forming ascending structure inside the fifth wave with target at 1.4100. We think, today price may consolidate for a while at current levels and form continuation pattern to reach level of 1.3800. Later, in our opinion, pair may consolidate again for some time and continue growing upwards.

GBP/USD

Pound is still moving inside another ascending wave with target at 1.6670; market returned to level of 1.6475 to test it from above. We think, today price may continue moving upwards to reach above-mentioned target.

USD/CHF

Franc is still falling down. We should note that this pair continues moving inside descending trend towards level of 0.8300. This descending movement is expected to be quite fast and without any serious corrections. We shouldn’t expect the market to form proper five-wave structure during this descending movement until price reaches its main target.

USD/JPY

Yen reached target of its descending structure; right now market is forming continuation pattern. If price is able to break current minimum, pair may extend this structure up to level of 100.00. Alternative scenario implies that pair may form new correction and return to level of 104.00.

AUD/USD

Australian Dollar is still falling down towards target at 0.8400. However, we shouldn’t expect the market to form proper five-wave structure during this descending movement until price reaches its main target.

GOLD

Gold reached target of its first ascending wave. We think, today price may form correctional structure to fall down towards level of 1230. This movement is considered as the right shoulder of head & shoulders reversal pattern and may reach target at 1360.

RoboForex Analytical Department

Publication source
RoboForex information  RoboForex reviews

January 20, 2017
The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
January 20, 2017
A huge disappointment in the UK data
UK retail sales fell most since 2012. We see he fastest pace of decline in almost five years in December. It is due to sales of... pretty much everything from household goods to clothing and food...
January 20, 2017
Trump takes office today. Markets await inauguration speech
Investors await Trump's inauguration and speech due later today as he takes office as the 45th President of the United States. The U.S. dollar was seen giving up some of the gains yesterday with some volatility coming off the EURUSD on the back of the ECB meeting...

FXCM Rating
Trade360 Rating
FBS Rating
OANDA Rating
Orbex Rating
XTB Rating

365BinaryOption Rating
First Binary Option Service Rating
Banc De Binary Rating
Porter Finance Rating
OptionTrade Rating
EZTrader Rating