Forex Technical Analysis for 22.12.2015

December 22, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is consolidating. The market is expected to be corrected, but hasn’t created proper conditions for that. We think, today, the price may continue falling inside the downtrend to reach 1.4729.

USD CHF, “US Dollar vs Swiss Franc”

Franc has almost reached the target of its correction. We think, today, the price may form another ascending structure to reach 1.000 and then return to 0.9900. An alternative scenario implies that the market may reach 0.9890 then continue moving upwards.

USD JPY, “US Dollar vs Japanese Yen”

Yen is consolidating. We think, today, the price may continue falling to reach 120.60 and then return to 121.16. Later, in our opinion, the market may continue falling inside the downtrend towards the target at 120.25.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has completed the correction. We think, today, the price may fall to reach 0.7058 and then return to 0.7154. Later, in our opinion, the market may continue falling inside the downtrend with the target at 0.7000.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is moving at the top of its ascending structure. We think, today, the price may form a correction to reach 70, at least. The descending structure will help us to understand the future prospects of the pair.

XAU USD, “Gold vs US Dollar”

Gold has broken 1069, formed the continuation pattern, and may continue growing towards 1090 to return to the upper border of the channel. Later, in our opinion, the market may return to the center at 1069. If later the market breaks this consolidation channel upwards – it may continue the correction towards 1110; if downwards – continue falling inside the downtrend to reach 1015.

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