Forex Technical Analysis & Forecast 06.12.2021

EURUSD, “Euro vs US Dollar”

After completing the descending structure at 1.1266 along with the correction towards 1.1326, EURUSD is rebounding from this level. Possibly, the pair may form a new descending structure to break 1.1235. Later, the market may continue trading downwards with the short-term target at 1.1115.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.3260 to the downside, GBPUSD continues falling to reach 1.3183. Later, the market may correct to test 1.3260 from below and then resume trading downwards with the target at 1.3175.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues trading downwards to reach 73.13. After that, the instrument may correct to test 74.14 from below and then form a new descending structure with the first target at 72.47.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 113.00. Possibly, the pair may form one more ascending structure to break 113.60 and then continue trading within the uptrend with the first target at 114.90.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9198. Possibly, today the pair may form one more ascending structure to break 0.9265 and then continue trading upwards with the target at 0.9333.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the descending wave at 0.6992; right now, it is growing to reach 0.7083. Later, the market may resume trading downwards with the target at 0.6950.

BRENT

After completing the ascending impulse at 72.82 along with the correction towards 69.08, Brent is growing towards 76.70. Later, the market may start a new correction to reach 73.00 and then resume trading upwards with the target at 80.00.

XAUUSD, “Gold vs US Dollar”

After finishing the ascending wave at 1783.00, Gold is consolidating around this level. If later the price breaks this range to the downside, the market may start a new correction to reach 1772.00; if to the upside – resume growing with the target at 1804.60.

S&P 500

The S&P index has completed the descending wave at 4496.0. Today, the asset may resume growing towards 4616.6 and then start another decline to reach 4490.0. After that, the instrument may form one more ascending wave with the target at 4666.0.