Forex Technical Analysis for 02.12.2015

December 2, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has almost completed the correction inside its consolidation channel and right now is moving downwards. We think, today, the price may reach new lows at 1.0500. Later, the pair may test 1.0540 and then continue falling inside the downtrend with the target at 1.0300.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has finished the first ascending impulse and corrected it, thus defining the borders of a new consolidation structure. If later this channel is broken upwards, the market may continue the correction to reach 1.5255; if downwards - continue falling inside the downtrend towards its next target at 1.4880. 

USD CHF, “US Dollar vs Swiss Franc”

Franc has completed its correction and right now is moving upwards. We think, today, the price may break the top, reach 1.0343, and then continue growing inside the uptrend to reach its next target at 1.0400.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating around 123.00. We think, today, the price may grow to reach 123.70 and then return to 123.00 to test it from above. After that, the pair may continue growing to reach 124.50.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has almost reached its upside local target.  We think, today, the price may be corrected downwards to reach 0.7200 and then continue growing towards 0.7400.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is moving close its top. We think, today, the price may stop consolidating and move towards the lower border to start another descending wave with the target at 60. Alternative scenario implies that the market may reach new highs and then start a new decline.

XAU USD, “Gold vs US Dollar”

Gold has almost completed its correction and right now is falling. We think, today, the price may break 1064 and then continue falling inside the downtrend to reach the next target at 1048. After that, the instrument may form another consolidation channel. The main target is at 1015.

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