Analysis for December 4th, 2015
Being influenced by the news, Eurodollar has started a correction. The market has almost reached the target of the fourth wave. The main scenario remains the same – today the price may continue falling inside the downtrend and start the fifth wave with the target at 1.0300. The first target is at 1.0768.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is being corrected. We think, today, the price may fall towards 1.5071. Later, the correction may continue to reach 1.5250 (an alternative scenario). After that, the instrument may continue falling to reach 1.4848.
USD CHF, “US Dollar vs Swiss Franc”Franc has almost completed the fourth correctional structure. We think, today, the price may start forming the fifth wave to reach 1.0530.
USD JPY, “US Dollar vs Japanese Yen”Yen is consolidating. We think, today, the price may grow to reach 123.80. After that, the pair may return to 123.00.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is still consolidating. We think, today, the price may be corrected towards 0.7200 and then continue growing to reach 0.7400.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble is expected to return to 66.48 today. After that, the pair may continue forming its descending wave towards 60.00. An alternative scenario implies that the market may reach a new high and then continue falling towards 60.00.
XAU USD, “Gold vs US Dollar”Gold has completed its ascending correction. We think, today, the price may fall to reach 1043.45 and then return to 1059.00 to test it from below. After that, the instrument may fall towards 1015.00.
RoboForex Analytical Department
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