BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 22546.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 22905.00 and then resume moving downwards to reach 21285.00. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 23905.00. In this case, the pair may continue growing towards 23885.00. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 22205.00.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2219; 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 1.2165 and then resume moving upwards to reach 1.2395. 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 1.2095. In this case, the pair may continue falling towards 1.1995.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2878; 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 1.2865 and then resume moving upwards to reach 1.3025. 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 1.2755. In this case, the pair may continue falling towards 1.2665.

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.2180 due to the gap this morning, EURUSD is expected to start another correction. Later, the market may return to 1.2180 to test it from below and then form a new descending structure with the target at 1.2163.

GBPUSD, “Great Britain Pound vs US Dollar”

After the gap this morning, GBPUSD is falling towards 1.3305. After that, the instrument may start another grow to test 1.3416 from below and then form a new descending structure as a correction with the target at 1.3230.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading not far from the upside border of the consolidation range. Possibly, today the pair may break 73.98 and grow towards 74.50. Later, the market may resume moving downwards with the target at 72.22.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending wave at 103.55, USDJPY is consolidating below this level. Today, the pair may expand the range up to 103.66. Later, the market may form a new descending structure with the target at 102.50.

USDCHF, “US Dollar vs Swiss Franc”

After returning to 0.8858, USDCHF is trading to break this level to the upside. Possibly, the pair may expand the range up to 0.8880. After that, the instrument may start another decline with the target at 0.8811.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading downwards. Possibly, the pair may reach 0.7560 and then form one more ascending structure to test 0.7595 from below. Later, the market may start a new decline with the target at 0.7550.

BRENT

After completing another ascending structure at 52.30 along with the correction towards 50.70, Brent is consolidating around the latter level. If later the price breaks this range to the downside; the market may form a new descending structure towards 49.20; if to the upside – start another growth with the target at 51.50.

XAUUSD, “Gold vs US Dollar”

After finishing the ascending wave at 1899.20, Gold is expected to form a new consolidation range near the highs. If later the price breaks this range to the downside, the market may resume trading downwards with the first target at 1848.50.

BTCUSD, “Bitcoin vs US Dollar”

After completing the ascending wave at 24250.00 along with the correction towards 23200.00, BTCUSD is expected to grow to reach 24300.00 and may return to 23200.00, thus forming a new consolidation range between two latter levels. If later the price breaks this range to the downside; the market may form a new descending structure to reach 22200.00; if to the upside – resume trading upwards with the target at 24700.00.

S&P 500

After finishing the ascending structure at 3733.0 along with the correction towards 3689.1, the S&P index is growing to reach 3750.6. After that, the instrument may start another correction towards 3700.0 and then form one more ascending structure with the target at 3765.0.

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking 8/8 and leaving the “overbought area”, EURUSD is expected to continue falling towards 6/8; this movement may be considered as a correction within the uptrend. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue trading upwards to reach +1/8.

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 its decline.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is moving above the 200-day Moving Average, thus confirming an ascending tendency. In this case, the price is expected to test 5/8, rebound from it, and then resume moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and fall to reach the closest support at 4/8.

As we can see in the M15 chart, the price is moving quite far from the upside line of the VoltyChannel indicator and, as a result, may continue growing only after rebounding from 5/8 from the H4 chart.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after forming a Doji pattern close to the support area, XAUUSD may reverse and resume growing towards the resistance level. In this case, the upside target will be at 1925.00. At the same time, an opposite scenario implies that the price may start another decline to return to 1875.00 before resuming its growth.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD is correcting within the uptrend; right now, it is reversing after forming a Shooting Star pattern close to the resistance area. After completing another correction, the asset may resume trading upwards with the target at 0.7170. However, an alternative scenario implies that the price may start a new pullback towards 0.7050 before resuming the ascending tendency.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the asset is still correcting within the uptrend. Right now, after forming several reversal patterns, such as Hanging Man, not far from the resistance area, GBPUSD is reversing. The correctional target is at 1.3300. After that, the instrument may rebound from the support level and then resume moving upwards. Still, there might be an alternative scenario, according to which the asset may grow to reach 1.3480 without testing the support area at 1.3300.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1906.00; 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 1895.00 and then resume moving upwards to reach 1945.00. 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 1860.00. In this case, the pair may continue falling towards 1805.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7562; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7585 and then resume moving downwards to reach 0.7445. 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 0.7635. In this case, the pair may continue growing towards 0.7765.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2183; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2195 and then resume moving downwards to reach 1.2065. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2275. In this case, the pair may continue growing towards 1.2365.

GBPUSD is falling towards its two-week lows and may move much lower due to a harsher lockdown in the United Kingdom.

The British Pound is getting weak quickly against the USD on Monday afternoon. The current quote for the instrument is 1.3240.

The Brexit complications, which worried everybody last weekend, were put on the back burner because the United Kingdom is introducing a new lockdown due to a new COVID-19 strain, a more aggressive and mobile than the previous one.

The Scientific Advisory Group for Emergencies (SAGE) has already reported that the strain that was identified in the United Kingdom has a very high attack rate and may infect many more people than expected earlier.

All somehow COVID-related severe restrictions will remain in effect until the vaccination procedure starts. However, there are no ready vaccines, which proved to be totally efficient.
In the meantime, December 31st, the date when the United Kingdom must exit the European Union after agreeing on all trade and economic issues, is just 10 days away.

All this taken together makes the Pound rather nervous with the possibility of further decline.