Forex Technical Analysis 16.12.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

16 December, 2013

EUR/USD

Euro is still forming the fifth ascending wave with target at 1.4100; short-term trend is still bullish. We think, today price may grow up and reach new maximum. Alternative scenario implies that pair may start correction. We should note, that any correction may be considered as an opportunity to increase long positions. If price really starts new correction, its target will be at 1.3555.

GBP/USD

Pound fell down and completed the first wave, which may be considered as correction. We think, today price may move upwards and reach level of 1.6400. one should note, that market is moving inside the third ascending wave and this correction may be considered as link structure and take the form of either one wave or five-wave structure with target deep 1.6100. Any correction is an excellent opportunity to increase long positions. Predicted target of the growth is at 1.7150.

USD/CHF

Franc continues moving inside descending structure. Right now, market is forming another consolidation channel, which looks a bit like divergent triangle pattern. Any attempts of price to start ascending movement may be considered as an opportunity to increase long positions. We think, today price may fall down and reach level of 0.8820.

USD/JPY

Yen started forming descending impulse. We think, today price may extend it to reach level of 102.58 and then return to level of 103.37. Later, in our opinion, pair may continue moving inside down trend. The first target of this descending movement is at 99.70.

AUD/USD

After reaching its another target, Australian Dollar is forming consolidation channel to continue falling down. Next target is at 0.8720. Alternative scenario implies that pair may return to 0.9046 and then continue moving inside down trend.
GOLD

Gold continues forming consolidation channel; market reached new minimum and maximum of this consolidation, which may be considered as divergent triangle pattern. We think, today price may price may form new structure to reach new minimum and then rebound from level of 1223 downwards. Later, in our opinion, instrument may complete this descending wave by falling down and reaching 1195, and then form reversal structure for new ascending movement.

RoboForex Analytical Department


Source link  
Forex Technical Analysis for 29.12.2015

Eurodollar has almost reached the target of its ascending wave. We think, today, the price may continue forming its consolidation channel at the top of this ascending structure. Possibly, the pair may reach 1.0997...

Forex Technical Analysis for 28.12.2015

Eurodollar is still forming an ascending structure, which may be considered as the fourth correctional one inside the descending wave. We think, today, the price may complete the current growth by reaching 1.0997 and then start falling to form the fifth structure with the target at 1.0752...

Technical analysis for 23.12.2015

The euro dollar currency is trading with a decline today. The channel of the fourth component of growth is breaking through. The next step is the fifth with a target at the level of 1.0752. Next, we consider the possibility of the correction returning to the level of 1.0900...


Forex Technical Analysis for 22.12.2015

Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900...

Murrey Math Lines for 21.12.2015

Eurodollar is consolidating close to Super Trends, which may soon form bearish cross to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper...

Forex Technical Analysis for 18.12.2015

Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742...


Wave Analysis for 17.12.2015

After finishing the wave [a], the pair has started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may complete the wave [b] and start forming the ascending impulse in the wave [c] of 4...

Forex Technical Analysis for 16.12.2015

Eurodollar has finished another descending structure to expand its consolidation channel downwards. We think, today, the price may return to 1.0984. Later, in our opinion, the market may rebound from this level and continue falling inside the downtrend towards 1.0770...

Forex Technical Analysis for 15.12.2015

Eurodollar is expanding its consolidation channel upwards. We think, today, the price may prefer to move according to an alternative scenario and grow to reach 1.1068. Later, in our opinion, the market may fall and expand the channel downwards to reach 1.0925...

  


Share: