Analysis for December 21st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating; at the moment, the market is forming an ascending structure to expand the channel upwards. We think, today, the price may test 1.0900 to test it from below and then start another descending wave with the local target at 1.0740.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating. We think, today, the price may test 1.4976 from below and then form one more descending wave to reach 1.4809. The main target of this descending structure is at 1.4730.
USD CHF, “US Dollar vs Swiss Franc”
Franc is expanding its consolidation channel downwards. We think, today, the price may reach 0.9888 and then continue growing to reach 1.0000. Later, in our opinion, the market may consolidate for a while and then continue moving upwards to reach 1.0120.
USD JPY, “US Dollar vs Japanese Yen”
Yen is consolidating as well. We think, today, the price may expand the channel upwards to reach 121.90 and then continue falling inside the downtrend towards the target at 120.25.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is returning to the center of its consolidation channel. Later, in our opinion, the market may continue falling inside the downtrend with the target at 0.7030.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is growing and expected to form another consolidation channel to reach new highs and lows. We think, today, the price may form a reversal pattern. After reaching new highs, the market may start falling at any moment towards 60.
XAU USD, “Gold vs US Dollar”
Gold has grown and returned to the center of its consolidation range. We think, today, the price may fall towards 1056 and then form another consolidation channel. If the market breaks this consolidation channel downwards, it may continue falling inside the downtrend to reach 1015; if upwards – continue the correction towards 1110.
RoboForex Analytical Department
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