Article By RoboForex.com
Analysis for December 4th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has reached its downside targets; the pair hasn’t been able to rebound fast and right now it is consolidating near its minimums. We think, today the price may try to reach a new low and then make a reverse to expand this consolidation channel upwards. Later, in our opinion, the market is expected to return to level of 1.2384.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has completed a structure towards level of 1.5715. We think, today the price may break this level and reach the target at 1.5755. Later, in our opinion, the market may try to test level of 1.5715 from above and then grow towards level of 1.5800.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached its upside target and right now is forming a consolidation channel near the top. We think, today the price may reach a new high, complete this ascending wave, and then make a reverse to start falling towards level of 0.9700. thus, the market is expected to start a new descending wave. An alternative scenario implies that the pair may grow to reach level of 0.9800 once again.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues growing slowly; the next target is at level of 120.60. All predicted targets might be the broken upper borders of future consolidation channels. The market may stop growing at any moment and start falling fast.
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AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still under pressure and continues falling; the pair has reached a new low. We think, today the price may reach the next downside target at level of 0.8324. Later, in our opinion, the market may test level of 0.8396 from below and then start a new descending movement towards level of 0.8234.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has tried to reach a new high and formed a descending impulse. We think, today the price may correct it towards level of 53.38 and then form the second descending impulse. The main target of a descending correction is at level of 49.35.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. We think, today the price may grow towards the upper border and reach level of 1223. Later, in our opinion, the market may fall towards the lower border at 1196. An alternative scenario implies that the price may form a descending correction towards level of 1186.
RoboForex Analytical Department
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.
