Analysis for December 1st, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is making another attempt to form a correction towards 1.0610. We think, today, the price may continue falling inside the downtrend to reach 1.0500. Later, the pair may test 1.0577 from below and then continue moving downwards with the target at 1.0300.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has reached the target at 1.5000 and right now is forming an ascending impulse towards 1.5108. After that, the instrument may return to 1.5052 and then form a consolidation between these two levels. If later this channel is broken upwards, the market may continue the correction to reach 1.5158; if downwards - continue falling inside the downtrend towards its next target at 1.4850.
USDCHF, “US Dollar vs Swiss Franc”
Franc is being corrected towards 1.0250. We think, today, the price may reach this level and then continue growing inside the uptrend to reach its next target at 1.0420.
USDJPY, “US Dollar vs Japanese Yen”
Yen is forming another ascending structure with the target at 123.60. We think, today, the price may reach it and then return to 122.80. After that, the pair may continue growing to reach new highs and 124.50.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is moving upwards to reach 0.7300. We think, today, the price may test 0.7243 from above and then continue growing towards the above-mentioned target. Later, in our opinion, the market may fall to return to 0.7160.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is rebounding from the upper border of its trading range. Possibly, the market may try to test 67. However, the main scenario implies that the price may continue falling towards the lower border, break it, and then move downwards to reach 60.
XAUUSD, “Gold vs US Dollar”
Gold is attempting to reach 1175; this structure may be considered as a correction. Later, in our opinion, the market may continue falling inside the downtrend to reach 1148. After that, the instrument may return to 1065 and then start another decline towards 1015.
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
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.
Google starts indexing Bitcoin addresses
Bitcoin address data is live on Google search results after users realized on Thursday that the tech giant started indexing Bitcoin blockchain data. However, mixed reactions have followed the tech giant's reversed stance on the cryptocurrency.
A Hollywood ending for fourth quarter GDP
The latest revisions put Q4 GDP at 3.4%, the second fastest quarterly growth rate in two years. Much of the upside was attributable to stronger consumer spending, yet fresh profits data affirmed it was a good quarter for the bottom line as well with profits up by the most since the Q2-2022.