Forex Technical Analysis & Forecast 20.12.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has completed another descending impulse. Possibly, today the pair may be corrected towards 1.1410 and then form a new descending structure with the short-term target at 1.1315.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.2640. Today, the pair may fall to reach 1.2580 and then grow to expand the range towards 1.2750. Later, the market may continue trading inside the downtrend with the short-term target at 1.2415.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming the second rising impulse towards 0.9957. After that, the instrument may start a new consolidation range. If later the instrument breaks this range to the upside, the price may resume trading inside the uptrend with the short-term target at 1.0015; if to the downside – resume trading inside the downtrend towards 0.9932.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has formed another consolidation range around 112.40. If later the instrument breaks this range to the downside, the price may complete the second half of this descending wave at 111.15; if to the upside – start a new correction towards 112.90 and then resume trading inside the downtrend with the short-term target at 111.15.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still trading downwards. Possibly, today the pair may reach 0.7077 and then form a new consolidation range. If later the instrument breaks this range to the upside, the price may be corrected to reach 0.7142; if to the downside – resume trading inside the downtrend with the target at 0.7000.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has expanded its consolidation range towards 67.67. Today, the pair may fall to reach 66.76 and grow towards 67.20, thus forming another consolidation range. Later, the market may break it to the downside and continue this decline with the target at 65.50.

XAUUSD, “Gold vs US Dollar”

Gold has finished the first descending impulse. Possibly, today the pair may be corrected to reach 1250.00 and then form the second descending impulse towards 1235.85.

BRENT

Brent is trading downwards. Possibly, the pair may reach 54.80 and then form one more ascending structure towards 59.20, thus forming another consolidation range with a reversal pattern. After that, the instrument may break the range to the upside and start a new rising wave with the first target at 73.00.