Forex Technical Analysis for 01.12.2015

December 1, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is making another attempt to form a correction towards 1.0610. We think, today, the price may continue falling inside the downtrend to reach 1.0500. Later, the pair may test 1.0577 from below and then continue moving downwards with the target at 1.0300.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has reached the target at 1.5000 and right now is forming an ascending impulse towards 1.5108. After that, the instrument may return to 1.5052 and then form a consolidation between these two levels. If later this channel is broken upwards, the market may continue the correction to reach 1.5158; if downwards - continue falling inside the downtrend towards its next target at 1.4850. 

USD CHF, “US Dollar vs Swiss Franc”

Franc is being corrected towards 1.0250. We think, today, the price may reach this level and then continue growing inside the uptrend to reach its next target at 1.0420.

USD JPY, “US Dollar vs Japanese Yen”

Yen is forming another ascending structure with the target at 123.60. We think, today, the price may reach it and then return to 122.80. After that, the pair may continue growing to reach new highs and 124.50.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is moving upwards to reach 0.7300.  We think, today, the price may test 0.7243 from above and then continue growing towards the above-mentioned target. Later, in our opinion, the market may fall to return to 0.7160.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is rebounding from the upper border of its trading range. Possibly, the market may try to test 67. However, the main scenario implies that the price may continue falling towards the lower border, break it, and then move downwards to reach 60.

XAU USD, “Gold vs US Dollar”

Gold is attempting to reach 1175; this structure may be considered as a correction. Later, in our opinion, the market may continue falling inside the downtrend to reach 1148. After that, the instrument may return to 1065 and then start another decline towards 1015.

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