EURUSD is keeping its positive momentum in the middle of this year’s last trading week.

The major currency pair is looking good on Wednesday. The current quote for the instrument is 1.2281.

Those few investors, who are still on the market, remain quite positive but it’s not difficult due to celebrations of the catholic Christmas and New Year.

Another positive factor is the start of vaccination against the coronavirus in Europe and that’s an excellent reason for market players to buy. Europeans are very committed, that’s why there is a hope that lockdowns may be canceled much earlier than expected, thus helping economies to recover faster.

The Treasury Currency Report published by the USA yesterday didn’t leave any impression on market players.

Later today, one should pay attention to the Chicago PMI, which may fall to 56.6 points in December, and the Pending Home Sales, which may add 0.1% m/m in November after losing 1.1% m/m the month before.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, a divergence on MACD made the pair stop its ascending movement after a test of the high at 1.3624. possibly, the pair may start a new decline towards 50.0%, 61.8%, and 76.0% fibo at 1.3150, 1.3037, and 1.2904 respectively. However, if the asset does break the high, the price will continue growing to reach the long-term 61.8% fibo at 1.3664 and then enter the post-correctional extension area between 138.2% and 161.8% fibo at 1.3790 and 1.3980 respectively.

In the H1 chart, after testing the high, the pair is correcting downwards and has already reached 61.8% fibo. Later, the asset may grow to break the high and then continue moving towards the local post-correctional extension area between 138.2% and 161.8% fibo at 1.3790 and 1.3892 respectively. On the other hand, a breakout of the local support at 1.3188 will lead to further mid-term correction.

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, after re-testing the high at 127.01, EURJPY is forming a divergence on MACD, which may hint at a new decline. However, after finishing the pullback, the pair is expected to resume growing to break the high and reach the mid-term 61.8% fibo at 128.65, as well as the post-correctional extension area between 138.2% and 161.8% fibo at 129.16 and 130.40 respectively.

The H1 chart shows potential correctional targets after a divergence on MACD. The key targets may be 23.6%, 38.2%, and 50.0% fibo at 126.20, 125.55, and 125.04 respectively. A breakout of the local high at 127.23 will hint at further uptrend.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 103.34; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 103.55 and then resume moving downwards to reach 102.45. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 103.95. In this case, the pair may continue growing towards 104.75.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2279; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2255 and then resume moving upwards to reach 1.2345. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.2205. In this case, the pair may continue falling towards 1.2115.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7651; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7625 and then resume moving upwards to reach 0.7705. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7575. In this case, the pair may continue falling towards 0.7485.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the descending tendency continues. Right now, after forming several reversal patterns, such as Doji, not far from the resistance level, USDCAD is reversing in the form of another descending impulse and may later continue falling within the descending channel. in this case, the downside target will be at 1.2685. However, an alternative scenario implies that the price may start a new pullback to reach 1.2900 before resuming its decline.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD continues growing within the rising channel. Right now, after forming several reversal patterns, such as Harami, not far from the support area, the pair may reverse and then resume growing to reach the next resistance area at 0.7700. At the same time, an opposite scenario says that the price may correct towards 0.7575 before resuming the ascending tendency.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the downtrend continues. At the moment, after forming several reversal patterns, such as Engulfing, not far from the resistance area, USDCHF is reversing and may continue the descending tendency. In this case, the downside target may be the next support area at 0.8770. Still, there might be an alternative scenario, according to which the asset may grow to return to 0.8900 before testing the support area.

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is moving below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to break 0/8 and then continue falling towards the support at -1/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the pair is expected to continue falling towards its local lows not far from the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and grow to reach 3/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 0/8 from the H4 chart.

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.2293, EURUSD is consolidating below this level. If later the price breaks this range to the upside, the market may form one more ascending structure towards 1.2300; if to the downside – start a new correction with the target at 1.2210.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is growing towards 1.3565 and may later correct to reach 1.3500. After that, the instrument may move upwards to break 1.3655 and then continue trading within the uptrend with the target at 1.3780.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating below 74.00. If later the price breaks this range to the downside, the market may resume trading downwards to reach 72.30 and then start another correction to return to 74.00.

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending wave at 103.30, USDJPY is consolidating around this level. If later the price breaks this range to the upside, the market may start another correction towards 103.60; if to the downside – resume trading downwards with the short-term target at 102.70.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending wave at 0.8830, USDCHF is forming a new consolidation range around this level. If later the price breaks this range to the upside, the market may start another growth with the target at 0.8874; if to the downside – resume trading downwards to expand the range towards 0.8808.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the ascending wave at 0.7612 and then forming a new consolidation range around this level, AUDUSD has broken it to the upside; right now, it is still growing towards 0.7673. Later, the market may form a new descending structure with the target at 0.7612.

BRENT

Brent is still forming a consolidation range around 51.36 without any particular direction. Possibly, the asset may expand the range down to 50.70 and then grow to reach 52.30. After that, the instrument may fall to break 51.36 and then continue the correction towards 50.10. Later, the market may resume trading upwards with the target at 53.50.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1885.50. Possibly, today the metal may fall to reach 1869.50. If later the price breaks this range to the downside, the market may resume falling towards 1842.40; if to the upside – start a new growth with the target at 1900.00.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating above 25650.00. Possibly, the asset may try to break the range to the upside at 27400.00 and then continue trading upwards to reach 29015.00. Later, the market may start a new correction with the target at 23650.

S&P 500

After completing the ascending wave at 3758.0 along with the correction towards 3725.6, the S&P index is still growing return to 3758.0. Later, the market may break the latter level and continue trading upwards to reach 3800.0. After that, the instrument may form a new descending structure with the target at 3700.0.

EURUSD, “Euro vs US Dollar”

After breaking 1.2230, EURUSD is expected to continue growing with the target at 1.2270. Today, the pair may reach 1.2260 and then start a new correction to return to 1.2230. After that, the instrument may resume growing towards the above-mentioned target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed the correction at 1.3460; right now, it is growing to reach 1.3722. Later, the market may form a new descending structure with the target at 1.3460.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending wave at 73.73; right now, it is consolidating above this level. If later the price breaks this range to the upside, the market may start another correction towards 74.80; if to the downside – resume trading downwards with the target at 72.62.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 103.50; it has rebounded from the upside border at 103.88 and right now is falling to break 103.50. After that, the instrument may fall to break 103.30 and then continue trading downwards with the short-term target at 102.70.

USDCHF, “US Dollar vs Swiss Franc”

After forming the consolidation range above 0.8880 and breaking it to the downside, USDCHF is expected to fall towards 0.8860. Later, the market may return to 0.8880 to test it from below and then start another decline with the target at 0.8840.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the correction at 0.7580, AUDUSD is growing towards 0.7600. Possibly, the pair may break the latter level to the upside and continue trading upwards to reach 0.7673. Later, the market may correct with the target at 0.7560.

BRENT

Brent is still forming a consolidation range around 51.36. Possibly, the asset may expand the range down to 50.70 and then grow to reach 52.30. After that, the instrument may fall to break 51.36 and then continue the correction towards 50.10. Later, the market may resume trading upwards with the target at 53.50.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1880.00. Possibly, today the metal may fall to reach 1869.50. If later the price breaks this range to the downside, the market may resume falling towards 1842.40; if to the upside – start a new growth with the target at 1900.00.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating above 25650.00. Possibly, the asset may break the range to the downside and then resume trading downwards to reach 23230.00. Later, the market may form one more ascending structure with the target at 28500.00.

S&P 500

After breaking the consolidation range to the upside, the S&P index is still growing towards 3759.0. Later, the market may start a new correction to reach 3700.0 and then form one more ascending structure with the short-term target at 3800.0.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is moving within the “overbought area”. In this case, the price is expected to break 8/8 and fall to reach the closest support at 7/8. However, this scenario may be canceled if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart, NZDUSD is trading above the 200-day Moving Average, thus confirming the ascending tendency. In this case, the price is expected to break 5/8 and continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may continue falling to reach the closest support at 3/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.