Analysis for December 26th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trading towards the upside border of the consolidation range; it fact, the price is forming the expanding triangle
pattern. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1.0330.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has reached another downside target. Possibly, today the price may grow to reach 1.2370; this movement may be considered as a correction. After that, the instrument may continue falling towards 1.2020.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is moving in the center of the consolidation range; it has formed the triangle
pattern. Possibly, the price may form the flag
correctional pattern towards 1.0175; this decline may be considered as an alternative scenario only. The main scenario suggests that the market may continue growing to reach 1.0400. However, if this consolidation range is broken downwards, the market may test 1.0200 from above once again. After that, the instrument may continue growing inside the uptrend with the target at 1.0400.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving in the center of the consolidation range without any particular direction. If later the instrument breaks this range upwards, it may grow to reach 119.50; if downwards – fall with the target at 116.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed another descending structure. Possibly, today the price may return to 0.7225 and then continue falling inside the downtrend to reach 0.7100.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is trading to rebound from the center of the consolidation range. Possibly, today the price may break the downside border and continue falling with the target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold is not trading due to Christmas. After the market opening on December 27th
, the price may fall to reach 1100.
Brent is not trading due to Christmas. After the market opening on December 27th
, the correction towards 53.00 may continue. After that, the instrument may grow with the target at 59.90.
RoboForex Analytical Department