Analysis for December 5th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has completed an ascending wave, but the structure of such wave implies one more descending movement. We think, today the price may form a descending wave to reach level of 1.2232. Later, in our opinion, the market is expected to form a consolidation channel between level of 1.2397 and 1.2342, break it downwards, and expand it towards level of 1.2288.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has expanded its channel upwards, but hasn’t been able to stay above level of 1.5700; the pair has renewed the minimum of this consolidation channel. We think, today the price may expand it downwards. The target is at level of 1.5577. Later, in our opinion, the market may start another ascending wave.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached the target of its descending structure, which implies that the pair may reach new highs. We think, today the price may form a consolidation channel between levels of 0.9695 and 0.9727. After breaking it upwards, the market may reach level of 0.9755 and then fall towards level of 0.9727. After that, the price may continue growing to reach level of 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues growing slowly; the next target is at level of 120.60. After that, the price may return to level of 119.30. All predicted targets might be the broken upper borders of future consolidation channels. The market may stop growing at any moment and start falling fast.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still under pressure and continues falling; the pair has tested level of 0.8387 from below. Later, in our opinion, the market may fall towards level of 0.8324. The target of this structure is at level of 0.8234.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has completed its correction. We think, today the price may fall towards level of 51.31, form a consolidation channel, and then break it downwards. The local target is at level of 48.25. Later, in our opinion, the market may test level of 51.31 from below and then start another descending movement towards level of 47.81.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. We think, today the price may grow towards the upper border and reach level of 1223.00. Later, in our opinion, the market may fall towards the lower border at 1196.00. An alternative scenario implies that the price may form a descending correction towards level of 1186.00.
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 steadily as traders anticipate Australian Retail Sales, Fed’s decision
The Aussie Dollar registered solid gains against the US Dollar on Monday, edged up by 0.55% on an improvement in risk appetite, while the Greenback was crushed by Japanese authorities' intervention. As Tuesday’s Asian session begins, the AUD/USD trades at 0.6564.
EUR/USD finds support near 1.0720 after slow grind on Monday
EUR/USD jostled on Monday, settling near 1.0720 after churning in a tight but lopsided range as markets settled in for the wait US Fed outing. Investors broadly expect US rates to hold steady this week, but traders will look for an uptick in Fed guidance for when rate cuts could be coming.
Gold prices soften as traders gear up for Fed monetary policy decision
Gold price snaps two days of gains, yet it remains within familiar levels, with traders bracing for the US Fed's monetary policy decision on May 1. The XAU/USD retreats below the daily open and trades at $2,334, down 0.11%, courtesy of an improvement in risk appetite.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Relief wave on altcoins likely as BTC shows a $5,000 range
Bitcoin price has recorded lower highs over the past seven days, with a similar outlook witnessed among altcoins. Meanwhile, while altcoins display a rather disturbing outlook amid a broader market bleed, there could be some relief soon as fundamentals show.
Gearing up for a busy week: It typically doesn’t get any bigger than this
Attention this week is fixated on the Federal Reserve's policy announcement scheduled for Wednesday. While the US central bank is widely expected to remain on hold, traders will be eager to discern any signals from the Fed regarding the possibility of future interest-rate cuts.