EURUSD, USDJPY, GBPUSD, AUDUSD, USDCHF, NZDUSD, and USDCAD technical analysis and forecast for 2-6 December 2024

Here is a detailed weekly technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCHF, NZDUSD, and USDCAD for 2-6 December 2024.

EURUSD forecast

The EURUSD pair is forming the first upward wave towards 1.0720. After reaching this level, the price could drop to 1.0525. Subsequently, the next growth structure may develop, targeting 1.0808. This entire wave is considered a correction of the previous decline. Once the correction is complete, the EURUSD pair is expected to fall to 1.0333, potentially continuing towards the local target of 1.0111.

USDJPY forecast

The USDJPY pair continues its downward move towards 149.30. After reaching this level, the price may rise to 152.46. Subsequently, a downward wave could begin, targeting 148.28. Practically, a correction is unfolding. Once the correction is complete, a new upward wave in the USDJPY pair could begin, targeting 154.00 and potentially continuing towards 158.75.

GBPUSD forecast

The GBPUSD pair is forming the first upward wave towards 1.2784. Once this level is reached, a downward wave may target 1.2633. Subsequently, an upward wave could follow, aiming for 1.2900 and potentially continuing towards 1.2966. The entire growth wave is considered a correction of the previous decline. After the correction, the GBPUSD pair will fall to the local target of 1.2010.

AUDUSD forecast

The AUDUSD pair is forming the first growth wave towards 0.6541. After reaching this level, the price could decline to 0.6484 before rising to 0.6650. This entire upward wave is regarded as a correction of the previous decline. Once the correction is complete, the AUDUSD pair may continue to decline, aiming for 0.6150 as the local target.

USDCHF forecast

The USDCHF pair has completed a downward wave to 0.8798 and could rise to 0.8874 today. After reaching this level, it may decline to 0.8725 and continue toward 0.8655. Subsequently, another upward wave in the USDCHF pair is expected to begin, aiming for 0.8988 as the main target.

NZDUSD forecast

The NZDUSD pair is forming the first upward wave towards 0.5948. Once this level is reached, it could fall to 0.5873. A new upward wave may then begin, targeting 0.6020 and potentially continuing the trend towards 0.6088. Subsequently, a downward wave could begin, aiming for 0.5580 as the local target.

USDCAD forecast

The USDCAD pair is forming a downward wave towards 1.3939. After reaching this level, the price could rise to 1.4000. Subsequently, a new downward wave may develop, targeting 1.3850 and potentially continuing towards 1.3760, the estimated target. This entire downward wave is considered a correction of the previous rise. Once the correction is complete, the USDCAD pair will begin an upward wave towards 1.4290, the local target.