Forex Technical Analysis & Forecast 16.12.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed another descending wave at 1.1222; right now, it is correcting towards 1.1300. After that, the instrument may start a new decline to break 1.1200 and then resume trading downwards with the target at 1.1180.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.3172 along with the correction towards 1.3272, GBPUSD is expected to resume falling to break 1.3215 and may later continue trading downwards with the target at 1.3150.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.50 without any specific direction. Possibly, the pair may break the range to the downside and resume falling with the first target at 72.50. Later, the instrument may start a new correction towards 74.20.

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 114.04, USDJPY is forming a new consolidation range around this level. Possibly, the pair may break the range to the upside and grow to reach 114.44. Later, the market may start a new decline towards 113.85 and then resume trading upwards with the target at 115.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the ascending wave at 0.9286 along with the correction towards 0.9232. Possibly, today the pair may resume growing to break 0.9290 and then form one more ascending structure with the target at 0.9350.

AUDUSD, “Australian Dollar vs US Dollar”

After falling and reaching 0.8092, AUDUSD has competed the ascending structure at 0.7180. Later, the market may start another decline with the target at 0.7071.

BRENT

Brent has finished the correction at 72.50 along with the ascending structure towards 74.60. Possibly, today the asset may fall to reach 72.40. Later, the market may start a new growth to break 75.00 and then form one more ascending structure with the target at 78.00.

XAUUSD, “Gold vs US Dollar”

After completing the descending wave at 1752.50, Gold has finished the ascending impulse towards 1784.00. Possibly, the metal may correct to reach 1765.00 and then resume trading upwards with the target at 1800.00.

S&P 500

The S&P index has finished the descending structure at 4610.7; right now, it is growing towards 4750.0. Later, the market may correct to reach 4652.0 and then form one more ascending wave with the target at 4800.0.

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.