Analysis for December 14th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating at the top of its ascending wave; the pair as reached its upside targets and this consolidation channel may be considered as a part of a reversal structure. We think, today, the price may break the channel downwards to reach the next target of this descending wave 1.0770.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has broken its consolidation channel upwards. The main scenario remains the same and implies that the price may continue falling inside the downtrend with the target at 1.4860. An alternative scenario suggests that the pair may grow towards 1.5250, fall to return to 1.5155, and then start another ascending movement to reach 1.5357.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached its downside target. According to the main scenario, the market is expected to grow towards 1.0040. We think, today, the price may form a new consolidation channel, which may be considered as a reversal pattern.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached its local downside target and even formed the extension
. We think, today, the price may return to 122.25 and then form the fifth wave, a descending one, to reach 120.47.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has updated the minimum of the wave and right now is moving close to the ascending channel. We think, today, the price may consolidate. If the price breaks this channel downwards, the downtrend may continue towards 0.6600; if upwards – the market may form another ascending structure to reach 0.7420 (an alternative scenario)
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble has expanded its trading range upwards and reached another target. We think, today, the price may return to 69.38 and then continue forming its consolidation range. Possibly, the market may reach new highs once again.
XAU USD, “Gold vs US Dollar”
Gold is being corrected and forming the flag
correctional pattern. We think, today, the price may reach 1055 and then return to 1071. After that, the instrument may resume falling.
RoboForex Analytical Department