Forex Technical Analysis 08.12.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

08.12.2014

Analysis for December 8th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar is under pressure and continues moving downwards. We think, today the price may continue forming the fifth wave with the target at level of 1.2230. Possibly, the pair may try to return to level of 1.2340 to test it from below and then continue falling towards the above-mentioned target.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is also still under pressure and continues falling. We think, today the price may reach level of 1.5555 and then form another ascending structure to return to level of 1.5635 to test it from below. Later, in our opinion, the market may start another descending movement towards level of 1.5510.




USD CHF, “US Dollar vs Swiss Franc”

Franc continues extending its ascending wave. We think, today the price may reach level of 0.9810 and then fall towards level of 0.9745. Later, in our opinion, the market may form a consolidation channel to return to level of 0.9800.




USD JPY, “US Dollar vs Japanese Yen”

Yen has reached another target of its extended wave. We think, today the price may form a descending structure towards level of 120.86. After that, the price may form a consolidation channel and continue falling to reach level of 119.80.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still forming a descending wave. We think, today the price may reach level of 0.8234. Later, in our opinion, the market may start a correctional structure to return to level of 0.8388.




USD RUB, “US Dollar vs Russian Ruble”

Ruble is still moving inside a descending structure. We think, today the price may reach level of 51.31 and then form a consolidation range to break the ascending channel. The local target is at level of 48.26.




XAU USD, “Gold vs US Dollar”

After completing another descending impulse, Gold is still consolidating. We think, today the price may return to level of 1200 and then form another descending structure towards level of 1180. Thus, the market is expected to form flag correctional pattern.



 
RoboForex Analytical Department

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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