Analysis for December 8th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is forming the fifth descending structure towards 1.0680. Later, in our opinion, the market may start growing to return 1.0740 and then fall with the target at 1.0600.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is moving downwards with the target at 1.2555. After that, the instrument may start growing to reach 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming another ascending wave to reach 1.011. Later, in our opinion, the market may fall towards 1.008 and then grow with the target at 1.017.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving downwards with the target at 112.30. After that, the instrument may grow towards 113.85 and then fall to reach 110.80.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed the ascending structure with the target at 0.7500. We think, today the price may fall to reach 0.7435. Later, in our opinion, the market may form another ascending structure towards 0.7550.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating; this range may be considered as a downside continuation pattern. Possibly, today the market may fall to break 63.40 and then reach 62.35. After that, the instrument may return to 63.80.
XAU USD, “Gold vs US Dollar”
Gold is growing to reach 1188. After that, the instrument may fall towards 1173. The entire structure may be considered as another consolidation range. After breaking it upwards, the market may start growing towards 1222.
Being under pressure, Brent is still moving downwards. Possibly, today the market may reach 52.83 and then grow towards 54. After that, the instrument may form another descending structure to reach 52.40 and then resume growing with the local target at 56.
RoboForex Analytical Department