USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is moving below 3/8. In this case, the price is expected to continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.

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.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is moving above 5/8. In this case, the price may break 7/8 and continue trading upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards the support at 5/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.

The major currency pair reached its five weeks highs influenced by the Fed’s comments after the December meeting.

On Thursday morning, EURUSD is trading close to its five weeks highs. The current quote for the instrument is 1.1138.

The US Fed December meeting, which was over yesterday, offered investors nothing new. The interest rate remained at 1.50-1.75%, the same as expected. However, the comments that followed surprised market players.

The regulator said that the current monetary policy was appropriate and in compliance with its economic purposes. The Fed continues monitoring home affairs and inflation pressure, which is quite reserved. It means that the interest rate wouldn’t be cut unless the regulator witnesses some serious changes in the country’s economy.

It was a pretty unpleasant surprise for the USD because market players were sure that the American economy was strong enough for the rate increase in the nearest future.

The revised forecast from the Fed was a bit worse. For example, inflation is expected to be 1.4-1.5% at the end of 2019 against the previous estimate of 1.5-1.6%.

Later today, investors’ attention will switch to the ECB meeting.

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending wave at 1.1097; right now, it is consolidating at the top. Possibly, the pair may expand this range downwards and upwards, 1.1074 and 1.1084 respectively. If later the price breaks this range to the upside, the market may choose an alternative scenario and continue moving upwards to reach 1.1114; if to the downside – resume trading inside the downtrend with the first target at 1.1065.

GBPUSD, “Great Britain Pound vs US Dollar”

After reaching 1.3200, GBPUSD is quickly falling and has already formed two descending impulses. Today, the pair may correct towards 1.3154 and then start a new decline with the first target at 1.3090.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the downside target at 0.9835; right now, it is growing towards 0.9880. Later, the market may start a new decline to reach 0.9855 and then form one more ascending structure with the first target at 0.9970.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached 108.75. Possibly, today the pair may fall to break 108.50 and then continue moving downwards with the target at 108.27.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the target of Flag pattern at 0.6807; right now, it is growing towards 0.6834. Possibly, the pair may reach this level and then resume trading inside the downtrend with the target at 0.6817.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards. Possibly, today the pair may test 63.64 from below and then form a new descending structure with the short-term target at 63.04.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving downwards to reach 1.3217. Later, the market may form one more ascending structure towards 1.3274, thus forming a new consolidation range between these levels. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1.3108; if to the upside – continue the uptrend with the target at 1.3282.

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending structure at 1468.62; right now, it is falling towards 1457.21. After that, the instrument may form onу more ascending structure to return to 1468.60 and then resume moving downwards with the target at 1444.00.

BRENT

Brent is still consolidating around 64.60. Possibly, today the pair may fall towards 63.74 and then grow to reach 68.46. After that, the market may start a new decline towards 64.60. If later the price breaks this range to the upside, the market may form one more ascending structure with the short-term target at 68.00; if to the downside – start another correction to reach 62.55.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has broken 7340.00; right now, it is still moving downwards to reach 7030.00. After that, the instrument may resume moving upwards to break 7600.00 and then continue growing with the first target at 8165.00.

On Wednesday morning, the major currency pair is falling after growing earlier; market players’ attention is totally focused on the US Fed December meeting.

EURUSD is retreating in the middle of the week after growing a little bit yesterday. The current quote for the instrument is 1.1087.

So, the two-day December meeting of the US Federal Reserve will be over today. This is the last meeting of the American regulator in 2019, the year that was a bit different from expectations. The interest rate is highly likely to remain unchanged at 1.50-1.75%, which means that the White House’s lobby on the Fed and its Chairman Jerome Powell is reducing. Or maybe, if miracles happen, of course, the Fed started to assert the right for its own stance and opinion.

Well, as for the interest rate, there is no intrigue around it. However, investors are worried by the comments that may follow after the meeting. In theory, the Fed is expected to provide signals and hints at its strategy for 2020. Everyone is guessing what they might be, but it will be better to wait for facts.

It can be said now that the interest rate was cut enough and the current value is okay for the US economy even if President Donald Trump starts a new trade war tomorrow.

Any signals or hints at further rate cuts in the future may put additional pressure on the USD.