Forex Technical Analysis 14.12.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
14.12.2016
Analysis for December 14th, 2016
EUR USD, “Euro vs US Dollar”
In case of the EUR/USD pair, the correction continues; the instrument has reached its local target at right now is still moving upwards. Possibly, today the price may reach 1.0690 and complete this correction. Later, in our opinion, the market may continue falling inside the downtrend. The first target is at 1.0600, the main one is at 1.0400.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is growing to reach 1.2800. After that, the instrument may be corrected to return to 1.2555 and then start another growth with the target at 1.3000.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is being corrected. Possibly, today the market may grow to reach 1.0147 and then fall towards 1.0085. Later, in our opinion, the market may start another ascending structure with the target at 1.0200.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is falling with the target at 114.50. After that, the instrument may return to 115.40. Later, in our opinion, the market may break the low of this wave and then continue falling to reach 113.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has formed another consolidation range around 0.7498. Possibly, today the market may break the range to the upside and reach 0.7550, or even extend this structure towards 0.7570.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is moving downwards. The main scenario implies that the price may form another consolidation range. Possibly, the market may break the range upwards and complete the correction at 63.25. After that, the instrument may continue falling towards 60.00.
XAU USD, “Gold vs US Dollar”
Gold is trading upwards to return to 1173. Later, in our opinion, the market may fall towards 1161. If later the instrument breaks this consolidation range to the upside, it may grow to reach 1222; if to the downside – fall with the target at 1145.
BRENT
Brent is trying to break the low of the first impulse. Possibly, today the price may fall towards 54.26 and then grow to reach 55.50. Later, in our opinion, the market may move downwards with the target 53.00 and then start another growth towards 59.00.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.