Forex Technical Analysis 28.12.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
28.12.2016
Analysis for December 28th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trying to expand its trading range towards 1.0500. The main scenario suggests that the market may continue falling inside the downtrend to reach 1.0330 and then start another correction with the target at 1.0500. After that, the instrument may continue moving downwards to reach 1.0150.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating at the lows of the descending wave and forming the triangle pattern. If later the instrument breaks this range downwards, it may fall to reach 1.2020; if upwards – start another correction with the target at 1.2370.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating; it has already formed the triangle pattern. After rebounding from 1.0260, the instrument may continue growing to reach 1.0360. Later, in our opinion, the market may be corrected towards 1.210 and then move upwards with the target at 1.0425.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has formed another narrow consolidation range. If the instrument breaks this range upwards, it may grow to reach 119.50; if downwards – fall with the target at 116.00 or even 115.00.
AUD USD, “Australian Dollar vs US Dollar”
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.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is trading to break 60.66. After that, the instrument may continue falling inside the downtrend towards 60.00 and then start a new correction with the target at 63.00.
XAU USD, “Gold vs US Dollar”
In case of Gold, the correction continues towards 1151. Later, in our opinion, the market may fall to break 1130. The target is at 1100.
BRENT
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
Attention!
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.