Analysis for December 15th, 2014
EURUSD, “Euro vs US Dollar”
The market was opened with a gap up today. Eurodollar is trying to continue its ascending movement, but hasn’t been able to stay above level of 1.2456. This descending movement may be considered as a wave towards level of 1.2360; while moving downwards, the pair may form triangle consolidation pattern. We think, today the price may continue forming this pattern. If later the price breaks it downwards, the current correction may continue; if upwards – Euro may form the third ascending wave.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound hasn’t been able to break level of 1.5730 and stay above it for a couple of weeks already. It means that we can’t be sure if the pair is going to reach level of 1.5800. This uncertainty may result in a new descending movement and new lows. We think, today the price may continue consolidating at the current levels and try to start a new ascending movement.
USDCHF, “US Dollar vs Swiss Franc”
The market was opened with a gap down today. Franc is trying to continue its descending movement, but hasn’t been able to stay below level of 0.9638. The pair is expected to form a higher correction towards level of 0.9723. We think, today the price may form triangle consolidation pattern. If later the price breaks it upwards, the pair may form a correction; if downwards – continue falling and forming a descending wave.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still forming triangle consolidation pattern. We think, today the price may break it downwards and continue falling towards the target at level of 117.10. However, the pair may break it upwards and reach level of 120.00 (as a correction). After reaching it, the price may fall again towards the above-mentioned target. This descending structure may be extended, thus forming the first wave of the downtrend.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still falling inside a descending channel with the target at 0.8500. Any attempt of the price to return to level of 0.8294 may be considered as an opportunity to increase short positions.
USDRUB, “US Dollar vs Russian Ruble”
Ruble wasn’t able to rebound to start a new correction and continued moving upwards. We think, today the price may reach level of 59.19 and then return to level of 54.80. This structure may be considered as an upside continuation pattern towards level of 66.70.
XAUUSD, “Gold vs US Dollar”
Gold has reached the target of its correction and right now is moving upwards. We think, today the price may form an ascending wave to reach level of 1250 and then start a new correction 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
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.