Analysis for December 17th, 2015
EUR USD, “Euro vs US Dollar”
Being influenced by the news, Eurodollar has corrected the first impulse and broken the minimum. We think, today, the price may form the third structure of its descending wave with the target at 1.0785. Later, in our opinion, the market may test 1.0890 from below and then form another descending structure towards 1.0742.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is falling. We think, today, the price may reach 1.4860 and then return to 1.5050 to test it from below.
USD CHF, “US Dollar vs Swiss Franc”
Franc has completed its correction and broken the top of its first ascending impulse. We think, today, the price may form a new consolidation channel, break it upwards, and then continue growing to complete the third wave with the target at 1.0050. Later, in our opinion, the market may return to 0.9918.
USD JPY, “US Dollar vs Japanese Yen”
Yen has completed its ascending wave and right now is falling towards 121.40. This structure may be considered as a part of the descending wave with the target at 120.20.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming a wide consolidation channel; the pair has reached the channel’s lower border, moved towards the upper border, and then returned to the lower one again. We think, today, the price may test the center of the channel, rebound from it downwards, and then break the lows to continue falling with the target at 0.7050.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is returning to 70.50. We think, today, the price may reach it and then continue falling towards 68.51. After that, the instrument may return to 69.40.
XAU USD, “Gold vs US Dollar”
Gold is forming the fifth structure of the flag pattern. We think, today, the price may reach 1055.44. After that, the instrument may grow to return to 1071.88. The market is forming a new consolidation channel.
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