Forex Technical Analysis & Forecast 15.12.2020
EURUSD, “Euro vs US Dollar”
After completing the ascending wave at 1.2175 and then returning to 1.2122, EURUSD is consolidating around 1.2150. Possibly, today the pair may break the range to the downside and reach 1.2122. If later this level is also broken, the market may continue trading downwards with the short-term target at 1.2080.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the ascending wave at 1.3424 and then falling towards 1.3300, GBPUSD is consolidating above the latter level. Possibly, the pair may fall to break 1.3232 and then continue trading downwards with the short-term target at 1.3100.
USDRUB, “US Dollar vs Russian Ruble”
After completing the descending wave at 72.79, USDRUB has returned to 73.33 to test it from below. After that, the instrument may start a new decline to break 72.30 and then continue moving downwards with the target at 71.90.
USDJPY, “US Dollar vs Japanese Yen”
After finishing the descending wave at 103.50 and then returning to 104.00, USDJPY is consolidating around 104.10. Possibly, the pair may expand the range up to 104.25 and then start another decline with the short-term target at 103.30.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating around 0.8880. Possibly, today the pair may fall to break 0.8850 and then continue trading downwards to reach 0.8838. Later, the market may form one more ascending structure with the target at 0.8900.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the ascending wave at 0.7577; right now, it is falling towards 0.7491. After that, the instrument may grow to reach 0.7536 and then form a new descending structure with the target at 0.7440.
BRENT
After completing another correctional structure at 49.10 and then returning to 50.29, Brent is expected to fall and break 49.56 to the downside. Later, the market may continue falling towards 48.90 and finish the correction there. After that, the instrument may start another growth to break 50.50 and then continue trading upwards with the target at 51.15.
XAUUSD, “Gold vs US Dollar”
After finishing the descending wave at 1818.00, Gold is expected to grow and reach 1850.50, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may resume trading upwards to reach 1890.00; if to the downside – continue the correction with the target at 1790.66
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD has completed the ascending wave at 19500.00; right now, it is falling towards 18700.00. After that, the instrument may start another growth to reach 20000.00 and then resume trading downwards with the target at 18700.00.
S&P 500
After finishing the ascending structure at 3700.0 and then reaching 3655.5, the S&P index is consolidating around the latter level. Possibly, the asset may resume falling with the short-term target at 3610.0. Later, the market may form one more ascending structure to test 3655.5 from below and then start a new decline with the first target at 3600.0.
