Analysis for December 6th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the ascending wave. Possibly, today the market may be corrected towards 1.0600. As a result, the price has formed another consolidation range around 1.0600 and is moving inside the expanding Triangle pattern.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the GBP/USD pair is moving upwards. We think, today the price may continue forming the ascending wave with the target at 1.2780. Later, in our opinion, the market may start falling to reach 1.2550.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the descending wave to reach the downside border of the expanding Triangle pattern. We think, today the price may grow to reach 1.0164. Later, in our opinion, the market may continue consolidating.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed the descending impulse and right now is being corrected. Possibly, today the market may continue growing to reach 115.00. Later, in our opinion, the market may fall towards 112.50. The instrument is expected to form another consolidation range at the current highs.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is rebounding from 0.7500 to the downside and expected to reach 0.7440. After that, the instrument may grow towards 0.7550 and then continue falling inside the downtrend with the target at 0.7100.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating above 63.44. Possibly, today the market may break this range and fall towards 62.00. After that, the instrument may return to 63.44 and then fall to reach the local target at 61.00.
XAU USD, “Gold vs US Dollar”
Gold is consolidating around 1170. After breaking this consolidation range to the upside, the market may grow towards 1220; to the downside – may move downwards with the target at 1155.
BRENT
Brent is still forming the third ascending wave with the target at 56.00. Possibly, today the market may grow to reach this local target. After that, the instrument may consolidate and for a reversal pattern to complete the fourth wave towards 51.50.
RoboForex Analytical Department
