Analysis for December 7th, 2016
EURUSD, “Euro vs US Dollar”
The EUR/USD pair is forming another descending structure towards 1.0600. Later, in our opinion, the market may start growing to return 1.0720.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is moving downwards with the target at 1.2555. After that, the instrument may start growing to reach 1.2968.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming another ascending wave to reach 1.0172. Later, in our opinion, the market may fall towards 1.011.
USDJPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving upwards with the target at 114.76. After that, the instrument may fall towards 112.50.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair is falling towards the downside border of its consolidation range. We think, today the price may reach 0.7370. Later, in our opinion, the market may grow towards 0.7550.
USDRUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating. Possibly, today the market may fall to break 63.40 and then reach 62.00. After that, the instrument may return to 63.40.
XAUUSD, “Gold vs US Dollar”
Being under pressure, Gold is falling. Possibly, today the market may reach 1155 and then start growing towards 1222.
BRENT
Being under pressure, Brent is still moving downwards. Possibly, today the market may to reach 53. After that, the instrument may continue growing with the local target at 56.
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 jumps above 0.6500 after hot Australian CPI data
AUD/USD extended gains and recaptured 0.6500 in Asian trading, following the release of hotter-than-expected Australian inflation data. The Australian CPI rose 1% in QoQ in Q1 against 0.8% forecast, providing extra legs to the Australian Dollar upside.
USD/JPY hangs near 34-year high at 154.88 as intervention risks loom
USD/JPY is sitting at a multi-decade high of 154.88 reached on Tuesday. Traders refrain from placing fresh bets on the pair as Japan's FX intervention risks loom. Broad US Dollar weakness also caps the upside in the major. US Durable Goods data are next on tap.
Gold price cautious despite weaker US Dollar and falling US yields
Gold retreats modestly after failing to sustain gains despite fall in US Treasury yields, weaker US Dollar. XAU/USD struggles to capitalize following release of weaker-than-expected S&P Global PMIs, fueling speculation about potential Fed rate cuts.
Crypto community reacts as BRICS considers launching stablecoin for international trade settlement
BRICS is intensifying efforts to reduce its reliance on the US dollar after plans for its stablecoin effort surfaced online on Tuesday. Most people expect the stablecoin to be backed by gold, considering BRICS nations have been accumulating large holdings of the commodity.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Fed might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.