EURUSD, “Euro vs US Dollar”

EURUSD continues growing; right now, it is forming the second ascending impulse with the short-term target at 1.1100. After that, the instrument may form an upside continuation pattern and break this level upwards. The key target of the second impulse is at 1.1133.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken 1.2957 upwards. Possibly, the pair may start a new correction towards 1.3010 and then resume trading downwards to return to 1.2957.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading to break 0.9800 downwards. Possibly, the pair may form a downside continuation pattern. The target of this structure is at 0.9780.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 109.45 upwards. Possibly, today the pair may grow to reach 109.60 and then form a new descending structure towards 108.99 to finish the correction. After that, the instrument may resume trading inside the uptrend with the target at 109.70.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still moving upwards. Possibly, the pair may break 0.6930 and then continue growing to reach 0.6944, at least. Later, the market may form a new descending structure with the first target at 0.6858.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues falling. Today, the pair may reach 61.63 and then start another correction towards 61.90. After that, the instrument may resume trading inside the downtrend with the target at 61.47.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is moving downwards. Possibly, the pair may break 1.3150 and then continue falling to reach 1.3131 and complete the correction. Later, the market may form one more ascending structure with the target at 1.3180.

XAUUSD, “Gold vs US Dollar”

Gold is trading upwards. Today, the pair may reach 1507.70 (an alternative scenario). The main scenario implies that the price may start plunging at any moment.

BRENT

Brent is moving upwards. Possibly, today the pair may reach 67.00 and then start a new correction towards 66.36. After that, the market may resume trading upwards with the target at 67.22.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has broken 7200.00 downwards. The main scenario implies that the pair may continue the correction towards 7000.00 and then then resume growing to break 7350.00. Later, the market may continue trading inside the uptrend with the target at 8200.00.

GBPUSD stopped falling, but remains week.

The British Pound slowed down its decline against the USD on Tuesday. The current quote for the instrument is 1.2944.

This week, there will be no important statistics for the British Pound: today it’s Christmas eve, tomorrow – Christmas itself, that’s why British markets will be closed until Thursday.

However, market players are really concerned about the Brexit. At the moment, when the Conservative Party and the country’s Prime Minister Boris Johnson are “set loose” in making the Brexit decisions, chances of the “hardcore” exiting scenario are rising. It means that the United Kingdom may exit the European Union until January 31st, 2020 without caring whether it has a trade agreement with the alliance or not. Euphoria was quickly replaced by routine, because Tory may really ignore common sense in favor of completing the Brexit as soon as possible. In the meantime, investors are pretty clear-eyed about the risks and see all possible problems that may follow the exiting procedure.

What exactly alerted them? The fact that the British policymakers insist on a special article in the Brexit agreement that makes the English judicial law dominating over the European one. The alliance may not agree to it and Johnson may jeopardize the talks and threaten to exit the Union without the agreement.

Under such conditions, the Pound may remain under pressure for a long time, which prevents it from getting back to 1.30.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6903; 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 0.6875 and then resume moving upwards to reach 0.6975. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6845. In this case, the pair may continue falling towards 0.6755.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6602; 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 0.6590 and then resume moving upwards to reach 0.6695. Another signal to confirm further ascending movement is the price’s rebounding from Triangle’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6550. In this case, the pair may continue falling towards 0.6465. After breaking Triangle’s upside border and fixing above 0.6625, the price may continue moving upwards.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3158; 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 1.3185 and then resume moving downwards to reach 1.3030. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3225. In this case, the pair may continue growing towards 1.3305.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6849; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6840 and then resume moving upwards to reach 0.6920. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6795. In this case, the pair may continue falling towards 0.6695.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6563; 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 0.6555 and then resume moving upwards to reach 0.6705. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6490. In this case, the pair may continue falling towards 0.6395.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3163; 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 1.3185 and then resume moving downwards to reach 1.3035. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3245. In this case, the pair may continue growing towards 1.3335.

On Wednesday morning, AUDUSD is still retreating; investors are in favor of the American currency.

The Australian Dollar is falling against the USD in the middle of the week. The current quote for the instrument is 0.6844.

Yesterday, the Reserve Bank of Australia released its December Meeting Minutes. Policymakers came up with an opinion that it would be reasonable to review their economic outlook as early as during the regulator’s meeting in February 2020. The RBA has opportunities to use the necessary tools to give a boost to the country’s economy in case the labor market parameters get worse, but there is no need to do it so far. Apparently, this refers to the interest rate revision. According to the regulator, one should expect an extended period of low interest rates due to both global and domestic factors.

The RBA is a bit concerned about the slow growth rate of household incomes. However, if we take a look at rather cautious numbers in employment, we can see that there is no stress here, it’s just a low-key tendency.

As for the economic outlook, consumers remain very careful and cautious: economic issues are covered in the media in a quite “gloomy” way. However, people’s attitude to their own finance is pretty smooth, and that’s a good thing.

Overall, everything that was in the report was quite expected, because the key thing is that the RBA is ready to cut the rate if necessary. Probably, the conditions for that may appear at the end of the first quarter of 2020.

EURUSD, “Euro vs US Dollar”

EURUSD is correcting with the target at 1.1100. Possibly, today the pair may move upwards to reach 1.1146 and then form a new descending structure towards the above-mentioned target. Later, the market may start the fifth wave to the upside to reach the key target at 1.1236.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is correcting with the target at 1.3288. Today, the pair may grow towards 1.3400 and then resume moving downwards to reach the above-mentioned target. After that, the instrument may form one more ascending structure towards 1.3542.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9830. Possibly, today the pair may expand this range towards 0.9870. Later, the market may start a new decline with the target at 0.9790 and then resume trading upwards to reach 0.9915.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting with the target at 109.14. Today, the pair may reach 109.44 and then start a new decline to reach the above-mentioned target. After that, the instrument may form one more ascending structure with the short-term target at 109.80.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is correcting towards 0.6856. Later, the market may resume moving upwards with the key upside target at 0.6959.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the ascending impulse at 62.91 along with the correction towards 62.50, thus forming a new consolidation range. If later the price breaks this range to the upside at 62.90, the market may start a new growth with the short-term target at 63.37.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is consolidating around 1.3177. Possibly, the pair may reach 1.3200 and then form a new descending structure towards 1.3131. Later, the market may start another correction with the target at 1.3232.

XAUUSD, “Gold vs US Dollar”

Gold is correcting towards 1480.88. After that, the instrument may form a new descending structure to break 1465.05 and then continue moving downwards with the target at 1449.40.

BRENT

Brent has finished the ascending impulse at 66.00; right now, it is correcting downwards to reach 64.77. After that, the market may start a new growth with the short-term target at 67.20.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is moving downwards with the target at 7000.00. Later, the market may form one more ascending structure to break 7600.00 and then continue trading upwards to reach 8165.00.

GBPUSD is falling on Wednesday morning; investors are “digesting” the statistics and waiting for the US Fed meeting.

The British Pound couldn’t keep its positive momentum and right now is falling against the USD. The current quote for the instrument is 1.3130.

Yesterday, the United Kingdom published quite interesting numbers, but the Pound barely responded to them, because market players were and still are focused on the upcoming early parliamentary elections, which are scheduled on December 12th. However, there was no news about this topic in the morning, that’s why investors switched to the statistics.

The British GDP didn’t change in comparison with the previous reading, although it was expected to add 0.1% m/m. Consequently, the UK’s economy stagnated in October, which is not good for the national currency at all.

The Industrial Production added 0.1% m/m in October, thus recovering a little bit after losing 0.3% m/m in the previous month. The forecast was +0.2% m/m, but the sector wasn’t ready for such growth because businesses couldn’t be sure whether the Brexit would happen or postponed again.

The Construction Output showed -2.3% m/m in October after being -0.2% m/m in September and against the expected recovery by 0.2% m/m.

Today, investors’ attention is focused on the US Fed meeting, the last one this year. As a result, GBPUSD may become more volatile in the evening.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after finishing the descending wave at 38.2% fibo, XAUUSD is correcting. The first correctional wave reached 23.6% fibo, while the second one tried to reach 38.2% fibo at 1488.16, but failed and the pair fell instead. The next wave may break the above-mentioned level and then continue growing towards 50.0% and 61.8% fibo at 1501.30 and 1514.30 respectively. After completing the correctional uptrend, the instrument may break the local low at 1445.60 and continue falling towards its mid-term target, which is 50.0% fibo at 1413.85.

In the H1 chart, the divergence made the pair start a new descending correctional wave, which has reached 76.0% fibo, thus indicating a new wave to the upside to reach the local high at 1486.05.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the divergence made the pair stop growing at the mid-term high at start a new descending wave, which has almost reached 50.0% fibo. After breaking this level and fixing below it, the price may continue falling towards 61.8% and 76.0% fibo at 0.9800 and 0.9748 respectively.

In the H1 chart, after finishing a quick descending wave, USDCHF is correcting and has almost reached 38.2% fibo at 0.9919. The next correctional targets may be 50.0% and 61.8% fibo at 0.9939 and 0.9959 respectively. The support is the low at 0.9855.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After completing several reversal patterns, including Inverted Hammer, close to the channel’s downside, XAUUSD is trying to reverse. In this case, the upside target may be at 1481.00. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling towards 1455.50.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming several reversal patterns, including Hanging Man, near the channel’s upside border, NZDUSD is trying to reverse. Later, the market may start a new decline to reach the support level at 0.6475. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow towards 0.6596 and break the channel’s upside border.