Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent

RoboForex Team RoboForex

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.

Author

RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers swiftly from weekly low, climbs back closer to $5,000 ahead of US CPI

Gold regains positive traction during the Asian session on Friday and recovers a part of the previous day's heavy losses to the $4,878-4,877 region, or the weekly low. The commodity has now moved back closer to the $5,000 psychological mark as traders keenly await the release of the US consumer inflation figures for more cues about the Federal Reserve's policy path.