Forex Technical Analysis & Forecast 07.12.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has broken the consolidation range upwards and reached the short-term upside target. Possibly, today the pair may fall towards 1.1353 and then grow to reach 1.1376. Later, the market may start another decline with the target at 1.1344. However, an alternative scenario implies that the price may form one more ascending structure towards 1.1420. According to the main scenario, the instrument is expected to continue trading inside the downtrend with the first target at 1.1299.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has almost completed the ascending wave. Today, the pair may form a new descending structure towards 1.2704 and then start another growth to reach 1.2760, thus forming a new consolidation range between these levels. Later, the market may break the range to the downside and continue falling inside the downtrend to reach 1.2655.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading downwards. Possibly, today the pair may form one more ascending structure towards 0.9945 and then start another decline to reach 0.9880 to complete this wave. After that, the instrument may resume trading inside the uptrend with the first target at 1.0007.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the descending structure; right now, it is trading upwards. Possibly, the pair may reach 113.20 and then resume trading inside the downtrend with the short-term target at 111.60.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7215. If later the instrument breaks this range to the upside, the price may be corrected to reach 0.7272; if to the downside – continue trading inside the downtrend with the target at 0.7147.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 66.47. Today, the pair may fall to break 65.60 and then continue trading inside the downtrend with the target at 65.11.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1239.20. If later the instrument breaks this range to the upside, the price may form one more ascending structure to reach 1252.30; if to the downside – resume falling with the target at 1224.45.

BRENT

Brent hasn’t been able to fix above 60.30; right now, it is trading downwards. Possibly, the pair may reach 56.65 and then start a new ascending impulse with the target at 64.70.