Analysis for December 17th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected towards its previous ascending wave. We think, today the price may complete this correction and leave this correctional channel. Later, in our opinion, the market may grow towards level of 1.2650.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is finishing its correction. We think, today the price may leave this correctional channel and start moving upwards to reach the next target at level of 1.5850.
USD CHF, “US Dollar vs Swiss Franc”
Franc is completing its correction. We think, today the price may leave this correctional channel and continue falling towards level of 0.9530. Later, in our opinion, the market may return to the current levels.
USD JPY, “US Dollar vs Japanese Yen”
Yen is finishing its correction with the target at level of 117.90. After that, the price may continue moving inside the downtrend towards level of 115.00. Later, in our opinion, the market may start a new correction to return to level of 118.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still falling inside the downtrend and reaching new lows. We think, today the price may reach level of 0.8500. The main downside target is at level of 0.7800.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues moving upwards. We think, today the price may fall towards level of 45.00, because of the regulator’s decisive actions.
XAU USD, “Gold vs US Dollar”
Gold has reached the target of its correction. We think, today the price may form a consolidation channel near the current low and then break this channel upwards. The next target of an ascending wave is at level of 1250. Later, in our opinion, the market may start falling again towards level of 1190.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD holds steady near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold price defends gains below $2,400 as geopolitical risks linger
Gold price is trading below $2,400 in European trading on Friday, holding its retreat from a fresh five-day high of $2,418. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row, supported by lingering Middle East geopolitical risks.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.