Analysis for December 7th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected downwards with the target at 1.0800. After that, the pair may complete this ascending impulse by forming another ascending structure towards 1.1010. Later, in our opinion, the market may continue falling inside the downtrend to reach the target at 1.0300.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is being corrected towards 1.5071. Later, in our opinion, the market may move upwards to reach 1.5246 and then continue falling inside the downtrend with the target at 1.4848.
USD CHF, “US Dollar vs Swiss Franc”
Franc is also being corrected towards 1.0080. After that, the instrument may form another descending structure to reach 0.9840 and then continue growing inside the uptrend towards the target at 1.0420.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving upwards with the target at 123.80. Later, in our opinion, the market may return to 123.00 and then continue growing to reach 124.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has almost broken the maximum of its ascending wave and completed it (the pair has finished the fourth wave). So, the market is expected to fall as the fifth wave with the target at 0.6600. We think, today, the price may form the first descending impulse towards 0.7277 and then return to 0.7330.
USD RUB, “US Dollar vs Russian Ruble”
Following the oil process decline, Russian Ruble continues growing. We think, today, the price may reach 68.85 and then start a correction towards 66.76 to test it from above. After that, the pair may form another ascending wave towards 69.10.
XAU USD, “Gold vs US Dollar”
Gold is consolidating at the top of its ascending impulse. We think, today, the price may be corrected towards 1070.45 and then form another ascending impulse to reach 1100. After that, the instrument may continue falling inside the downtrend towards 1015.
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