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Forex Technical Analysis 20.12.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
Analysis for December 20th, 2016
EUR USD, “Euro vs US Dollar”
Being under pressure, the EUR/USD pair is falling. Possibly, today the price may reach 1.0330. Later, in our opinion, the market may form another correctional structure towards 1.0500 and then move downwards with the target at 1.0150.
The GBP/USD pair has reached the target of the third descending wave. Possibly, today the price may reach 1.2350 and then start the fourth correctional structure to return to 1.2500. After that, the instrument may form the fifth structure with the target at 1.2300.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the USD/CHF pair is moving upwards. Possibly, the price may reach 1.0407. Later, in our opinion, the market may be corrected towards 1.0200 and then start another growth with the target at 1.0500.
USD CHF, “US Dollar vs Swiss Franc”
The USD/JPY pair has formed two descending impulses along with the correction. Possibly, the price may form another impulse to reach 115.30 and then start another growth towards 117.50. An alternative scenario implies that the market may grow with the target at 120.00.
USD JPY, “US Dollar vs Japanese Yen”
The AUD/USD pair has reached the predicted target of the third wave. Possibly, today the price may be corrected with the target at 0.7382 and then continue falling inside the downtrend towards 0.7100.
AUD USD, “Australian Dollar vs US Dollar”
The USD/RUB pair is still consolidating; it has formed the Triangle pattern. If the price break this consolidation range to the upside, the market may grow to reach 63.00; if to the downside – continue falling inside the downtrend with the target at 60.00.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, Gold is moving downwards. Possibly, the price may reach 1100 and then return to 1145.
XAU USD, “Gold vs US Dollar”
Brent has completed the correction with the target at 55.25 and right now is growing towards 56.74. After that, the instrument may fall to reach 55.25 and then continue growing with the target at 59.90.
RoboForex Analytical Department
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.
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