Daily Forex Analysis (2015.12.08)

Source: FXPRO Forex Broker (Review and Forex Rebates up to 85%)

EUR/USD Intraday: key resistance at 1.09.

Pivot: 1.09

Most Likely Scenario: short positions below 1.09 with targets @ 1.076 & 1.069 in extension.

Alternative scenario: above 1.09 look for further upside with 1.098 & 1.109 as targets.

Comment: as long as 1.09 is resistance, likely decline to 1.076.

EUR/USD Chart

GBP/USD Intraday: under pressure.

Pivot: 1.509

Most Likely Scenario: short positions below 1.509 with targets @ 1.5 & 1.4955 in extension.

Alternative scenario: above 1.509 look for further upside with 1.5115 & 1.5155 as targets.

Comment: the RSI is mixed to bearish.

GBP/USD Chart

USD/JPY Intraday: the bias remains bullish.

Pivot: 122.9

Most Likely Scenario: long positions above 122.9 with targets @ 123.55 & 123.75 in extension.

Alternative scenario: below 122.9 look for further downside with 122.7 & 122.45 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/JPY Chart