Forex Technical Analysis 31.12.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
31.12.2014
Analysis for December 31st, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has tested its broken consolidation channel from below. We think, today the price may continue falling inside the downtrend. The next target is at level of 1.2050. Possibly, the pair may this wave and reach level of 1.2000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has finished an ascending structure and almost formed the border of triangle pattern. We think, today the price may form a consolidation channel, break it upwards, and reach level of 1.5600 Later, in our opinion, the market may consolidate again.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues growing. . We think, today the price may reach level of 0.9933. Later, in our opinion, the market may consolidate again and then continue moving towards level of 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still forming a structure to return to level of 119.95. After reaching it, the price may continue falling towards level of 118.45. Later, in our opinion, the market may grow to return to level of 119.55.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has attempted to from a correction within the downtrend and formed a structure with the target at level of 0.8185. After breaking this correctional channel, the price may continue falling towards level of 0.8000.
USD RUB, “US Dollar vs Russian Ruble”
Influenced by the regulator, Ruble is still falling. We think, today the price may continue forming the fifth descending wave with the target at level of 45.00. Possibly, this wave may be extended up to level of 43.00. After reaching the above-mentioned target, the price is expected to start a correction to return to level of 60.00.
XAU USD, “Gold vs US Dollar”
Gold has completed the first wave of another ascending structure. We think, today the price may fall towards level of 1190. Later, in our opinion, the market may continue forming an ascending wave with the target at level of 1250.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.