Article By RoboForex.com
Analysis for December 23rd, 2016
The EUR/USD pair is trading to rebound from 1.0500 to the downside. Possibly, today the price may fall towards 1.0330 and then start forming another consolidation range. After breaking it downwards, the instrument is expected to continue falling inside the downtrend with the target at 1.0150.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has broken its consolidation range to the downside. Possibly, today the price may fall to reach 1.2220. Later, in our opinion, the market may grow towards 1.2370.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is moving in the center of the consolidation range; it has formed the triangle pattern. The main scenario suggests that the price may continue growing towards 1.0400. However, if this consolidation range is broken downwards, the market may test 1.0200 from above once again. After that, the instrument may continue growing inside the uptrend with the target at 1.0400.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving in the center of the consolidation range as well. If later the instrument breaks this range upwards, it may grow to reach 119.50; if downwards – fall with the target at 115.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to break the range to the downside. The target of this wave is at 0.7100. Possibly, today the price may reach 0.7170 and then test 0.7220 from below.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating at the bottom of the wide range. Possibly, today the price may return to the center of the range at 61.31 and then start falling with the target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. We think, today the price may grow towards the triangle’s upside border. After that, the instrument may fall to break the downside border and reach 1100.
Brent is consolidating. The main scenario suggests that the price may break the range to the upside and reach 58.50. However, if this consolidation range is broken downwards, the market may be corrected with the target at 54.32. After that, the instrument may continue growing with the target at 59.90.
RoboForex Analytical Department
Article By RoboForex.com
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.