Forex Technical Analysis & Forecast 07.12.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken another low of the descending wave. Possibly, today the price may test 1.1831 from below. After that, the instrument may form another descending structure with the local target at 1.1723.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating to break 1.3374. We think, today the price may reach 1.3295. Later, in our opinion, the market may resume growing towards 1.3425.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is trading to rebound from 0.9862 and may continue growing inside the uptrend towards 1.0000. Possibly, today the price may form the ascending structure to reach 0.9958 and then start another correction with the target at 0.9909. After that, the instrument continue moving upwards.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has returned to 112.45. Possibly, today the price may form another descending structure with the target at 111.76.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to break 0.7556 to the downside. We think, today the price may continue falling inside the downtrend to reach 0.7522. After that, the instrument may grow to return to 0.7556 and then resume falling with the target at 0.7470.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is trading to break the top of the first ascending structure. Possibly, the price may reach 59.31. Later, in our opinion, the market may start consolidating to break this level upwards. The local target is at 60.06.
XAU USD, “Gold vs US Dollar”
Gold is trading to rebound from 1268 to the downside. Possibly, the price may continue falling to break 1261 downwards. The next downside target is at 1249.
BRENT
Brent has broken its consolidation range to the downside. Possibly, today the price may test 62.10 from below. After that, the instrument may fall towards 59.90. In fact, the market is forming the third correctional wave.
RoboForex Analytical Department
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.