Forex Technical Analysis & Forecast 11.12.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

Yesterday, EURUSD started another descending wave; it managed to form the first structure, the correction, and the third structure as well. Possibly, today the pair may be corrected to reach 1.1370 and then fall towards 1.1325. After that, the instrument may start another correction with the target at 1.1385.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed another descending structure; it has formed a continuation pattern at 1.2650 and extended the wave. Today, the pair may trade upwards to reach 1.2605 and then form a new descending structure with the target at 1.2574. Later, the market may start another growth towards 1.2635.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished one more ascending structure; right now, it is being corrected. Possibly, the pair may reach 0.9888 and then form one more ascending structure with the short-term target at 0.9928.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the three-wave correction. Today, the pair may fall towards 112.80 and then grow to reach 113.41. After that, the instrument may start a new decline with the short-term target at 111.40.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating. Possibly, today the pair may grow towards 0.7240. If later the instrument breaks this range to the upside, the price may be corrected to reach 0.7300; if to the downside – resume trading inside the downtrend with the short-term target at 0.7077.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 66.47. Today, the pair may expand the range towards 65.77. In case the price breaks this level, the instrument may continue trading inside the downtrend with the short-term target at 64.00.

XAUUSD, “Gold vs US Dollar”

Gold is trading to rebound from 1243.30 upwards. Possibly, today the pair may reach 1252.30 and start another decline towards 1235.90.

BRENT

Brent is still consolidating around 60.10. Possibly, the pair may form a new descending structure to reach 56.65. If later the instrument breaks this range to the upside, the price may continue trading inside the uptrend with the short-term target at 67.77.