Forex Technical Analysis 12.12.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Article By RoboForex.com

Analysis for December 12^th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still falling. Considering that there are no corrections at the moment, possibly, today the market may grow to return to 1.0600. However, the target of this descending wave is at 1.0400.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is being corrected. An alternative scenario implies that the price may fall to reach 1.2450. Later, in our opinion, the market may return to 1.2550 and even continue this growth with the target at 1.2800.

USD CHF, “US Dollar vs Swiss Franc”

Being under pressure, the USD/CHF pair is moving upwards. Possibly, today the market may break 1.0200 to the upside. The target is at 1.0330.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has returned to the broken neckline. Possibly, today the market may consolidate. After breaking this consolidation range to the downside, the instrument may start a new descending wave with the target at 106.00.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is being corrected. Possibly, today the market may reach 0.7430 and then form another ascending structure with the target at 0.7550. Later, in our opinion, the market may continue falling inside the downtrend to break 0.7300.

USD RUB, “US Dollar vs Russian Ruble”

Following the oil market growth, the USD/RUB pair is moving downwards to reach the local target at 61.00. After that, the instrument may be corrected to return to 63.63 and then continue falling towards 60.00.

XAU USD, “Gold vs US Dollar”

Gold is still moving close to the downside border of the consolidation channel. Possibly, today the market may grow towards the center at 1168. After that, the instrument may fall towards 1145.

BRENT

Brent has reached the local upside target and is still moving towards the main target of this wave. Possibly, today the market may reach 58.00. Later, in our opinion, the market may be corrected to return to 51.50.

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.