Forex Technical Analysis for 18.12.2015

December 18, 2015

EUR USD, “Euro vs US Dollar”

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.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has almost reached another target of its descending wave. We think, today, the price may be corrected towards 1.4976 and then form one more descending structure to reach 1.4809.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving in the center of its consolidation range. We think, today, the price may be corrected towards 0.9918 and then continue growing to reach 1.0032.

USD JPY, “US Dollar vs Japanese Yen”

After expanding its consolidation channel upwards, Yen has returned to the center of the ascending structure, thus forming a strong descending impulse. We think, today, the price may be corrected towards122.69 and then continue falling to reach the main target at 120.20.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is growing towards 0.7154 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend with the target at 0.7031.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is attempting to expand its consolidation channel upwards and this time the currency doesn’t follow the oil price market. We think, today, the price may continue consolidating. After breaking its lows, the market may fall towards 68.

XAU USD, “Gold vs US Dollar”

Gold has reached the downside target of the flag pattern and even extended it downwards. However, the market is still consolidating. We think, today, the price may return to 1069 to test it from below and then continue falling towards 1015.

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