XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, there is a correction inside another correction. The first correctional descending wave has reached 38.2% fibo, while the next one may head towards 50.0% and 61.8% fibo at 1530.60 and 1511.80 respectively. After finishing the pullback, the instrument may resume trading upwards to reach the current high at 1611.29 and the post-correctional extension area between 138.2 and 161.8% fibo at 1599.45 and 1625.70 respectively.

The H1 chart shows more detailed structure of the correction. The pair is heading towards 38.2% fibo at 1564.80 and may later continue growing to reach 50.0% fibo at 1573.20. the support is the local low at 1535.89.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the pair is intending to continue trading downwards to reach the post-correctional extension area between 138.2 and 161.8% fibo at 0.9520 and 0.9433 respectively. However, considering the convergence on MACD and a slight growth, one can expect a new correctional uptrend. This scenario is valid as long as the instrument hasn’t broken the low at 0.9613.

In the H4 chart we can see that the instrument is moving towards 23.6% and 38.2% fibo at 0.9710 and 0.9770 respectively.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair is no longer trading inside the ascending channel. By now, EURUSD has formed several reversal candlestick patterns, including Inverted Hammer, close to the support level. We may assume that later the price may reverse and get back to 1.1155 to continue the ascending tendency. However, one shouldn’t exclude a possibility that the price may resume falling towards 1.1070.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving close to the rising channel’s upside border. It has already formed several reversal patterns, such as Shooting Star. The current situation implies that the pair may reverse and resume falling to reach 108.00. At the same time, the pair may choose another scenario, according to which it is expected to update the highs and test 110.65.

EURUSD, “Euro vs US Dollar”

After reaching 1.1110 and forming a downside continuation pattern without any corrections, EURUSD has broken 1.1109 downwards to continue its decline. Possibly, today the pair may correct towards 1.1104 at least and then form a new descending structure with the target at 1.1080.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached 1.3000; right now, it is consolidating around this level. Possibly, the pair may correct to reach 1.3050 and then continue trading inside the downtrend reach the target at 1.2940.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the short-term upside target at 0.9690. Today, the pair may correct towards 0.9660 and then start a new growth with the target at 0.9707.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.99. According to the main scenario, the price is expected to form one more ascending structure towards 110.53 and then resume falling with the target at 109.77.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is falling towards 0.6852. After that, the instrument may resume moving upwards to reach 0.6888 and then start another decline with the target at 0.6834.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues consolidating around 61.50. Possibly, the pair may break it upwards to reach 61.90. Later, the market may resume trading inside the downtrend with the target at 60.80.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is consolidating around 1.3062. Possibly, the pair may form a new descending structure towards 1.3050 and then resume growing with the target at 1.3082.

XAUUSD, “Gold vs US Dollar”

Gold is moving upwards. Today, the pair may reach 1566.66 and then start a new correction with the first target at 1554.20.

BRENT

Brent is forming the third ascending structure to reach 65.12. Later, the market may start another correction towards 65.30 and then resume trading inside the uptrend with the first target at 66.50.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has tested 8500.00 from above. Possibly, today the pair may form one more ascending structure towards 9240.00 and then start a new correction with the target at 7700.00.

The major currency pair remains under pressure on Monday; the USD continues getting stronger.

On Monday, EURUSD is still under “bearish” pressure. The current quote for the instrument is 1.1085.

The statistics published last Friday showed that the Industrial Production in the USA lost 0.3% m/m in December after adding 0.8% m/m in November. It happened due to a large decrease in demand for heating, as unseasonably warm weather in December followed unseasonably cold weather in November. Basically, the same may happen in January and it’s not good news for the country’s GDP.

The Capacity Utilization Rate in the USA was 77.0% in December, which is much worse than the November reading of 77.4%.

One more report, the Building Permits, showed 1.42M in December after being 1.47M in the previous month. The Housing Starts was 1.61M against 1.38M over the same period of time. This indicator wasn’t expected to change, that’s why its improvement was a pleasant surprise for market players.

Today, the USA is having a holiday, Martin Luther King Jr. Day, so the macroeconomic calendar is empty.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6896; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6905 and then resume moving downwards to reach 0.6795. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6955. In this case, the pair may continue growing towards 0.7035. After breaking the rising channel’s downside border and fixing below 0.6860, the price may continue moving downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6613; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6630 and then resume moving downwards to reach 0.6515. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6705. In this case, the pair may continue growing towards 0.6785.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3056; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3040 and then resume moving upwards to reach 1.3165. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.2965. In this case, the pair may continue falling towards 1.2895. After breaking Triangle’s upside border and fixing above 1.3085, the price may continue moving upwards.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has formed several reversal candlestick patterns, including Hammer and Long-Legged Doji, close to the channel’s downside border. We may assume that later the price may reverse and get back to 1.1180 to continue the ascending tendency. However, one shouldn’t exclude a possibility that the price may resume falling towards 1.1095.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving inside the rising channel again. it has already formed several reversal patterns, such as Shooting Star, and right now is testing the resistance level. The current situation implies that the pair may rebound and reach 109.45. At the same time, the pair may choose another scenario, according to which it is expected to break the channel’s upside border, update its highs, and test 110.50.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving above 5/8. In this case, the price is expected to test this level, rebound from it, and then resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may start a new decline towards the support at 3/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is moving below 3/8. In this case, the pair may test this level, rebound from it, and then resume falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may continue growing towards the resistance at 4/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1/8 from the H4 chart.

EURUSD, “Euro vs US Dollar”

After breaking the consolidation range to the downside, EURUSD has completed the correction at 1.1104; right now, it is forming one more ascending wave towards 1.1114. Later, the market may start a new correction to reach 1.1123 and then resume moving upwards with the target at 1.1155.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving upwards with the target at 1.3041. After that, the instrument may form a new descending structure to reach the short-term target at 1.2901.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating above 0.9666. Possibly, today the pair may reach 0.9660 and then form one more ascending structure with the target at 0.9690.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming the second descending impulse. Possibly, the pair may reach 109.56 and then start another growth towards 109.83. Later, the market may form a new descending structure with the target at 109.46.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6900 without any particular direction. Today, the pair may expand the range down to 0.6884 and then resume trading upwards with the target at 0.6929.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 61.12. Today, the pair may expand the range down to 60.70 and then start another correction to reach 61.06. Later, the market may continue trading inside the downtrend towards 60.06.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD continues consolidating around 1.3055 without any particular direction. Possibly, today the pair may form one more ascending structure towards 1.3080 and then resume falling to test 1.3055 from above. After that, the instrument may start a new growth with the target at 1.3100.

XAUUSD, “Gold vs US Dollar”

After breaking 1546.80 to the upside, Gold may choose an alternative scenario and extend the correction towards 1557.50. After that, the instrument may fall to break 1540.90 and then continue trading inside the downtrend with the target at 1524.50.

BRENT

Brent has completed the ascending impulse at 65.33 along with the correction towards 64.55. Possibly, today the pair may form one more ascending structure to reach 66.16 and then start a new correction to return to 65.33. After that, the instrument may resume trading inside the uptrend with the first target at 66.66.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is moving downwards to reach 8444.00. Possibly, the pair may reach this level and then form one more ascending structure towards 8660.00, thus forming a new consolidation range. If later the price breaks this range to the upside, the market may start another growth to reach 8960.00; it to the downside – continue the correction with the target at 7900.00.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after completing the correctional uptrend at 61.8% fibo, GBPUSD is moving downwards. The closest downside target is the low at 1.2904. If later the price breaks this level, the instrument may start a proper descending wave towards 50.0% and 61.8% fibo at 1.2855 and 1.2700 respectively.

The H1 chart shows the convergence on MACD. As a result, right now the pair is starting a new short-term ascending correction towards 23.6% fibo. The next upside targets may be 38.2% and 50.0% fibo at 1.3052 and 1.3083 respectively.

EURJPY, “Euro vs. Japanese Yen”

In the daily chart, after testing the support at 38.2% fibo and failing to fix there, EURJPY has updated the high. In the future, the instrument may continue trading upwards to reach 61.8% and 76.0% fibo at 123.05 and 124.69 respectively.

The H1 chart shows that the divergence made the pair start a new correction to the downside. The targets may be 23.6%, 38.2%, and 50.0% fibo at 122.15, 121.77, and 121.46 respectively. If the price breaks the resistance at 122.76, the mid-term growth will continue.

USDJPY updated its multiweek highs due to investors’ reduced interest in “safe haven” assets.

The Japanese Yen reached stability against the USD on Wednesday after plunging to its eight months lows the day before. The current quote for the instrument is 109.92.

Right now, when market players are eagerly waiting for coveted information relating to the signing of the first phase of the US-China trade agreement, demand for the “safe haven” Yen went down significantly.

This morning, the BoJ Governor Kuroda spoke and said that despite the slowdown in some Exports parameters and drawdown in business sentiment the Japanese economy was expanding slowly but steadily. According to the BoJ expectations, the country’s economy will continue growing gradually, although it should be noted that problems in global economies had a serious impact on it.

Officially, the CPI is anticipated to change by approximately 0.5% but may improve up to 2.0% due to a positive difference between production volume and expansion of inflation expectations. Right now, the indicator is pressured by oil prices decline.

The Bank of Japan emphasized once again that it would expand the money base until the inflation reached 2.0%.