Analysis for December 18th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has almost reached another target of its descending wave. We think, today, the price may be corrected towards 1.4976 and then form one more descending structure to reach 1.4809.
USDCHF, “US Dollar vs Swiss Franc”
Franc is moving in the center of its consolidation range. We think, today, the price may be corrected towards 0.9918 and then continue growing to reach 1.0032.
USDJPY, “US Dollar vs Japanese Yen”
After expanding its consolidation channel upwards, Yen has returned to the center of the ascending structure, thus forming a strong descending impulse. We think, today, the price may be corrected towards122.69 and then continue falling to reach the main target at 120.20.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is growing towards 0.7154 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend with the target at 0.7031.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is attempting to expand its consolidation channel upwards and this time the currency doesn’t follow the oil price market. We think, today, the price may continue consolidating. After breaking its lows, the market may fall towards 68.
XAUUSD, “Gold vs US Dollar”
Gold has reached the downside target of the flag pattern and even extended it downwards. However, the market is still consolidating. We think, today, the price may return to 1069 to test it from below and then continue falling 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
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.