Analysis for December 22nd, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the ascending impulse. Possibly, today the price may continue consolidating and fall to reach 1.0480. If later the market breaks this consolidation range to the upside, the correction may continue towards 1.0500; if to the downside – the instrument may continue falling with the target at 1.0330.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still forming another consolidation range. Possibly, today the price may reach 1.2400 and then return to 1.2353. If later the market breaks this range to the upside, the market may be corrected to reach 1.2500 at least; if to the downside – continue falling with the target at 1.2265.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is moving in the center of the consolidation range. The main scenario suggests that the price may continue growing towards 1.0400. However, if this consolidation range is broken downwards, the market may test 1.0210 from above once again. After that, the instrument may continue growing inside the uptrend with the target at 1.0500.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving in the center of the consolidation range as well. If later the instrument breaks this range upwards, it may grow to reach 119.50; if downwards – fall with the target at 115.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to break the range to the downside. The target of this wave is at 0.7100.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has broken the consolidation range to the downside. Possibly, the price may grow to reach 61.42 and then start falling with the target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. If later the market breaks this consolidation range to the downside, it may fall to reach 1100; if to the upside – move upwards with the target at 1145.
Brent is being corrected towards 54.95. Later, in our opinion, the market may form another ascending wave to reach 56.74. After breaking it, the instrument is expected to continue growing with the target at 58.30.
RoboForex Analytical Department