Analysis for December 19th, 2012
EUR/USD
The EUR/USD currency pair continues moving upwards, it may reach a local target at 1.3280. Later, in my opinion, the price may start consolidating and for a reversal pattern for a correction. The minimum for this correction may be at the level of 1.0380. After completing this correction, the pair may start growing up towards the target at 1.3500.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/32/eur_usd_19.12.12.png)
GBP/USD
The GBP/USD currency pair continues moving upwards. The current chart structure implies that this wave may have already been finished, but the market hasn’t formed a reversal pattern required for the start of a new correction yet. Today the price may reach a new maximum and then start forming a reversal pattern. The minimum for this correction may be at the level of 1.6135. After that, in my opinion, the pair may start a new ascending structure towards the main target of this wave at 1.6400.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/14/gbp_usd_19.12.12.png)
USD/CHF
The USD/CHF currency pair continues moving downwards; the target of this wave is at 0.9100. After reaching the target, the price may start forming a reversal pattern for a new correction. The minimum for this correction may be at the level of 0.9240. Later, in my opinion, the pair may start forming another descending structure.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/13/usd_chf_19.12.12.png)
USD/JPY
The USD/JPY currency pair continues moving upwards. The price is forming the last structure of this ascending wave with the target at 84.60. After that I expect the price to start forming a reversal pattern for a new correction. The minimum for this correction may be at the level of 83.20, the maximum is at the level of 81.20.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/90/usd_jpy_19.12.12.png)
AUD/USD
Australian Dollar continues consolidating in a downwards direction; the market formed a continuation pattern to start a correction. I think today the pair may reach the target at 1.0490, start a correction towards the 1.0560, and then continue moving downwards to reach the target at 1.0482. This movement will look like “flag” pattern; the structure of the pattern is corrective. After that, in my opinion, the pair may start a new ascending movement to renew the current tops.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/29/aud_usd_19.12.12.png)
GOLD
Gold continues moving downwards. The structure of this wave at the H4 chart indicates that it night have already been completed. However, at the daily chart there is a possibility that the instrument may continue falling down. In my opinion, today the price may test the level of 1681 from below and then start forming a new descending structure to reach the target at 1656.
RoboForex Analytical Department