Analysis for December 24th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has reached its downside target, but hasn’t been able to rebound. We think, today the price may continue falling. The next target is at level of 1.2050. Later, in our opinion, the market may form another consolidation channel, test level of 1.2215 from below, and then continue falling to reach level of 1.2000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached its downside target. We think, today the price may form an ascending impulse. After the pair completes this impulse and its correction, we’ll estimate if such pattern may continue growing. However, judging by its structure, we may assume that the market may reach a new low while consolidating.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached the target of its expansion, but a rebound is quite weak. It means that the pair may continue growing to reach level of 0.9930. Later, in our opinion, the market may return to level of 0.9830.
USD JPY, “US Dollar vs Japanese Yen”
Yen has also reached the target of its expansion. We think, today the price may form another ascending structure to reach level of 121.30. Later, in our opinion, the market may fall towards level of 118.60.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still falling inside the downtrend towards level of 0.8050. Later, in our opinion, the market may form a consolidation channel and break it downwards. The next target is at level of 0.8000.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has reached its downside target. We think, today the price may extend this wave downwards to reach level of 50.00 and then start a correction towards level of 60.00. We should note, that the pair is moving under pressure from the regulator; the target is at 45.00 (at least). During this descending movement, any attempts of the price to resume growing will be stopped by the regulator. The correction may not continue; it may stay inside a consolidation channel.
XAU USD, “Gold vs US Dollar”
Gold is forming a consolidation channel. We think, today the price may continue consolidating. If later the price breaks this channel upwards, the market may form an ascending wave and reach level of 1250; if downwards – expand the channel and continue consolidating.
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