Forex Technical Analysis for 16.12.2015

December 16, 2015

EUR USD, “Euro vs US Dollar”

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.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has expanded its consolidation channel downwards and almost completed the correction. We think, today, the price may return to 1.5050 and then continue falling to reach 1.4983.

USD CHF, “US Dollar vs Swiss Franc”

Franc has completed its ascending structure and expanded its consolidation range upwards. However, this growth may yet continue. We think, today, the price may test 0.9867 from above and then grow to reach 0.9949.

USD JPY, “US Dollar vs Japanese Yen”

Yen has reached the local target and expanded its consolidation channel upwards. . We think, today, the price may return to 121.29 and then form another ascending structure with the target at 122.25.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming another descending structure. We think, today, the price may reach 0.7141 and then return to 0.7212.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble has broken the lower border of its consolidation range. We think, today, the price may be corrected to return to 70.60. After that, the instrument may fall towards 69.92.

XAU USD, “Gold vs US Dollar”

Gold is moving inside a narrow consolidation channel. We think, today, the price may return to 1071.88 and then fall towards 1055.44. After that, the instrument may grow to return to 1071.88 once again.

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