Forex Technical Analysis & Forecast 19.12.2017 (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 completed the descending impulse and right now is being corrected. Possibly, the price may grow to reach 1.1802 and then fall towards 1.1720. After that, the instrument may start another decline with the main target of this descending wave at 1.1687.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has completed another descending impulse. We think, today the price may be corrected towards 1.3388 and then resume falling to reach 1.3286.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating near the lows. Possibly, today the price may grow towards 0.9930, break it, and then continue growing inside the uptrend to reach 1.0024.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is trading above 112.46. Possibly, the price may grow towards 112.87 and then fall to reach 112.46. If later the instrument breaks this range to the upside, the market may move upwards to reach 113.73; if to the downside (an alternative scenario) – fall with the target at 110.46.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating close to the upside border of the Triangle pattern. If later the instrument breaks this range to the upside, the market may start another ascending structure towards 0.7760; if to the downside – fall to reach 0.7575.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is trading downwards. If later the instrument breaks 58.53, the market may continue falling inside the downtrend to reach the local target at 57.73.
XAU USD, “Gold vs US Dollar”
Gold has reached another upside target and right now is consolidating. According to the main scenario, the price may fall towards 1257 and then grow to reach 1268 and finish the correction. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1220.
BRENT
Brent is consolidating above 63.50. If later the instrument breaks this range to the upside, the market may grow to reach 64.97; if to the downside – continue falling inside the downtrend towards 60.62.
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.