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.
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
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
Chainlink social dominance hits six-month peak as LINK extends gains
-637336005550289133_XtraSmall.jpg)
Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday.
Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.