Forex Technical Analysis & Forecast 10.12.2020

December 10, 2020

EURUSD, “Euro vs US Dollar”

The currency pair performed a local correction,reaching over 1.2060. Today, the market is trading in a structure of growth towards 1.2112. Upon reaching this level, the quotations might decline to 1.2050. There the correction will come to an end. Then another wave of growth to 1.2200 might start.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair is trading inside a consolidation range around 1.3363. A link of correction to 1.3240 might follow. In the case this level is broken away downwards, the decline might continue to 1.3015. In case the range is escaped upwards, a pathway to 1.3502 might open.

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USDRUB, “US Dollar vs Russian Ruble”

The currency pair keeps developing a consolidation range around 73.43. With an escape downwards, the pair might reach 72.82. Then the trend might continue to 72.30. Then the correction might continue to 74.00.

USDJPY, “US Dollar vs Japanese Yen”

The currency escaped the consolidation range upwards. It reached the local goal of growth to 104.36. Then it corrected to 104.12. Today, the growth might continue to 104.57. Practically, at this level the wave will exhaust its potential. Then we expect the trend to continue to 104.00. With a breakaway of this level downwards, the pair might further decline to 103.30.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair keeps developing a consolidation range above 0.8880. With a breakaway of this level downwards, the pair might go deeper down to 0.8850 and further – to 0.8811. Then growth to 0.8900 might follow.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair has completed a structure of decline to 0.7420. Now the market is trading in another wave of growth to 0.7511. After this level is reached, a wave of decline to 0.7350 might start. The goal is first.

BRENT

Oil is trading inside a consolidation range around 48.90. It might extend to 47.92, after which we expect another structure of growth to 49.00. With a breakaway of this level upwards, we expect the level of 50.00 to be reached.

XAUUSD, “Gold vs US Dollar”

Gold performed a wave of correction to 1825.85. Today, the growth might continue to 1857.64. Then a decline to 1841.02 might follow. The – growth to 1890.50. The goal is first.

BTCUSD, “Bitcoin vs US Dollar”

The market performed another wave of decline to 17,700. Today, we expect a consolidation range to form around this level. With an escape downwards, a pathway to 16,800 might open. The goal is local.

S&P 500

The index performed a structure of decline to 3685.5. At the moment, the market formed a consolidation range around this level and broke through it downwards. Today, we expect the level of 3657.8 to be reached. Then growth to 3730.4 might begin.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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Forex Technical Analysis & Forecast 10.12.2020