Forex Technical Analysis for 08.12.2015

December 8, 2015

EUR USD, “Euro vs US Dollar”

In case of Eurodollar, the correction continues. We think, today, the price may return to 1.0875 (at least) and then form another descending structure towards 1.0770. Later, in our opinion, the market may return to 1.0870 once again.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is being corrected towards 1.5000. After that, the instrument may grow to reach 1.5084 and then form another consolidation structure. If this structure is broken upwards, the market may grow to reach 1.5246; if downwards – continue falling towards 1.4848. 

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving upwards to reach 1.0108. Later, in our opinion, the market may test 0.9990 from above , thus forming a new consolidation channel. If this channel is broken upwards, the pair may growing inside the uptrend to reach 1.0528; if downwards – continue falling towards 0.9840.

USD JPY, “US Dollar vs Japanese Yen”

Yen is forming the ascending structure with the target at 123.50. After that, the instrument may return to 123.00. Later, the price may break its consolidation channel upwards to reach 124.50. However, if the channel is broken downwards, the market be corrected with the target at 120.76.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has broken its ascending channel and is moving towards the first target at 0.7134. After that, the instrument may return to 0.7258.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble continues moving upwards as the oil prices hit new lows. The market has reached the target of the extension. We think, today, the price may form a consolidation channel and a reversal pattern. The pair is expected to start another descending wave towards 60.

XAU USD, “Gold vs US Dollar”

Gold is falling towards 1064.00. After that, the instrument may return to 1076.50, thus forming a new consolidation channel. If this channel is broken downwards, the market may continue falling inside the downtrend towards 1015.00; if upwards – the correction may continue up to 1100.00.

RoboForex Analytical Department

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February 27, 2017
EURUSD dropping perfectly, remain bearish
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Gold surges to major $1250 resistance as uncertainty prevails
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