Analysis for December 16th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trading to the upside. Possibly, the price may be corrected towards 1.0503 and then fall to reach 1.0330. The market is expected to form another consolidation range below 1.0500.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still being corrected. We think, today the price may grow to reach 1.2540. After that, the instrument may start another decline with the target at 1.2350.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/CHF pair is moving downwards. Possibly, the price may be corrected towards 1.0225. Later, in our opinion, the market may grow to reach 1.0360.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached another target of the extension. We think, today the price may fall towards 116.00. After that, the instrument may grow with the target at 117.80.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has broken 0.7380 to the downside and may continue falling inside the downtrend towards 0.7100. The local target is at 0.7250.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is trading to break its descending channel. Possibly, the price may be corrected upwards with the target at 63.30. After that, the instrument may continue falling to reach 60.00.
XAU USD, “Gold vs US Dollar”
Gold is consolidating around 1135. Possibly, the price may break this consolidation range to the downside and then continue falling with the target at 1100. After that, the instrument may test 1135 from below.
Brent is being corrected. We think, today the price may rebound from 54.85 and fall to reach 53.50. Later, in our opinion, the market may move upwards with the target at 55.00.
RoboForex Analytical Department