Analysis for December 29th, 2016
The EUR/USD pair is still consolidating and forming the expanding triangle pattern. Possibly, today the price may reach 1.0330. After rebounding from the pattern’s downside border, the market may grow to reach the upside one at 1.0530. After that, the instrument may continue moving downwards to reach 1.0150, at least.
EUR USD, “Euro vs US Dollar”
The GBP/USD pair has reached a new low and right now is still consolidating. Possibly, the price may fall towards 1.2105.
GBP USD, “Great Britain Pound vs US Dollar”
The USD/CHF pair is being corrected towards 1.0200. Later, in our opinion, the market may move upwards with the target at 1.0360 and then start another decline to reach 1.0200.
USD CHF, “US Dollar vs Swiss Franc”
The USD/JPY pair is forming the fifth structure of the descending wave. The target is at 116.00. Possibly, this structure may be extended up to 115.00. After that, the instrument may form a new five-wave correctional structure in the form of the flag pattern. The target is at 117.45.
USD JPY, “US Dollar vs Japanese Yen”
The AUD/USD pair is consolidating near its lows. If later the price breaks this consolidation range to the downside, it may fall to reach 0.7100; if to the upside – start another correction with the target at 0.7270.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the USD/RUB pair is falling towards 60.00. Later, in our opinion, the market may start a new correction with the target at 63.00.
USD RUB, “US Dollar vs Russian Ruble”
In case of Gold, the correction continues towards 1155.00. Right now, the price is forming the third structure with the target at 1151.30. Later, in our opinion, the market may fall to break 1130.00 and then form the fifth structure to reach 1155.00. After that, the instrument may continue falling inside the downtrend with target at 1100.00.
XAU USD, “Gold vs US Dollar”
Brent is moving upwards. The market is expected to form another narrow consolidation range around 56.80 and then continue growing towards 58.80. After that, the instrument may be corrected with the target at 56.80 and then move upwards to reach the local target at 59.90.
RoboForex Analytical Department
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