Forex Technical Analysis & Forecast 24.12.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
After finishing the first ascending impulse along with the correction at 1.1070, EURUSD is forming the second one. Possibly, the pair may consolidate around 1.1091. If later the price breaks this range to the upside, the market may resume moving upwards to break 1.1099 and then continue growing with the short-term target at 1.1126.
GBPUSD, “Great Britain Pound vs US Dollar”
After completing the first ascending impulse along with the correction at 1.2919, GBPUSD is forming the second one. Today, the pair may reach 1.2983 and then start a new correction towards 1.2930. Later, the market may resume moving upwards with the target at 1.3030.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF continues growing towards 0.9838. After that, the instrument may start another correction with the target at 0.9803.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 109.42 without any particular direction; right now, it is correcting inside Flag pattern with the target at 109.14. After that, the instrument may form one more ascending structure to reach to 109.84.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still growing with the target at 0.6944, at least. Later, the market may form a new descending structure to break 0.6892 and then resume moving downwards with the first target at 0.6857.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is correcting towards 62.42. Later, the market may resume trading inside the downtrend with the target at 61.88.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has finished the descending impulse towards 1.3136 along with the correction at 1.3157, thus forming a new consolidation range. If later, the price breaks this range to the upside at 1.3160, the market may start another growth with the target at 1.3185; if to the downside at 1.3135 – resume falling to reach 1.3104.
XAUUSD, “Gold vs US Dollar”
Gold continues trading upwards; it has reached 1488.68 to return to the downside continuation pattern. The main scenario implies that the price may form a new descending structure with the first target at 1477.33.
Brent has returned to 66.20; right now, it is consolidating around it. According to the main scenario, the price is expected to continue forming the third ascending wave towards 67.07.
BTCUSD, “Bitcoin vs US Dollar”
After finishing the ascending wave at 7600.00, BTCUSD has completed the descending impulse towards 7350.00; right now, it is forming a downside continuation pattern with the target at 6999.00. After that, the instrument may grow to break 7350.00 and then continue moving upwards with the first target at 8200.00.