Article By RoboForex.com
Analysis for December 12th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has completed its correction towards an ascending wave and right now is consolidating is near the minimums of this descending movement. If the price breaks this consolidation channel downwards, the pair may continue falling to reach level of 1.2286; if upwards – grow to reach a new high.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving close to the upper border of its consolidation channel. If the price breaks the channel upwards, the pair may reach level of 1.5818; if downwards – continue falling towards level of 1.5525.
USD CHF, “US Dollar vs Swiss Franc”
Franc has completed an ascending wave and right now is consolidating at the top of it. If the price breaks this consolidation channel upwards, the pair may continue growing to reach level of 0.9765; if downwards – move downwards to reach a new low.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming a descending structure with the target at level of 118.40. After reaching it, the price may grow towards level of 120.00, fall to reach level of 117.00, and then move upwards again with the target at 120.10. Thus, the pair is forming another consolidating range towards its descending wave. If the price breaks this consolidation channel downwards, the downtrend may continue; if upwards – move renew the maximums of its ascending wave.
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AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is consolidating close to level of 0.8294. If the price breaks this consolidation channel downwards, the pair may continue falling inside the downtrend. The main downside target is at level of 0.7800.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has broken its consolidation channel upwards and right now is extending its ascending wave. By now, the pair has already reached its local target. We think, today the price may form a descending structure to reach level of 54.24 and then grow again to reach a new high.
XAU USD, “Gold vs US Dollar”
Gold is forming a descending wave towards level of 1213. We think, today the price may reach it and then expand this consolidation channel upwards trying to reach level of 1250.
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.
