Analysis for December 2nd, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still moving in the fifth ascending structure to reach the target at 1.0700. Possibly, the market may reach this target with the extension. The structure of the fifth wave implies that right now the price may be testing 1.0630. After that, the instrument may continue growing towards the above-mentioned target.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has completed the descending impulse and right now is being corrected towards 1.2636. Later, in our opinion, the market may start falling to reach 1.2444.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is falling to reach the target at 1.0070. We think, today the price may return to 1.0136 and then fall towards the target. Later, in our opinion, the market may be corrected with the target at 1.0140.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is forming another descending impulse and reach 112.50 Later, in our opinion, the market may be corrected towards 113.50 and then continue falling to reach 106.50. An alternative scenario suggests that the instrument may grow to reach a new high.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed the ascending impulse and the correction . We think, today the price may continue growing towards 0.7550. In case the market reaches another low, the instrument may continue falling inside the downtrend with the target at 0.7100.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is expected to fall towards 62.00. After that, the instrument may return to 63.50 and then fall to reach the local target at 61.00.
XAU USD, “Gold vs US Dollar”
Gold is growing towards 1186. Later, in our opinion, the market may move downwards with the target at 1160 and then form another ascending structure to reach 1250.
Brent is forming the third ascending wave with the target at 56.00. Possibly, today the market may fall towards 52.20 and then continue growing to reach the local target. After that, the instrument may be corrected towards 51.50 and then grow to reach 56.00.
RoboForex Analytical Department