Forex Daily Analysis (2015.12.18)

Source: Fxpro Forex Broker (Review and Forex Rebates Up to 85%)

EUR/USD Intraday: key resistance at 1.0885.

Pivot: 1.0885

Most Likely Scenario: short positions below 1.0885 with targets @ 1.0795 & 1.075 in extension.

Alternative scenario: above 1.0885 look for further upside with 1.0915 & 1.095 as targets.

Comment: as long as the resistance at 1.0885 is not surpassed, the risk of the break below 1.0795 remains high.

EUR/USD Chart

GBP/USD Intraday: the downside prevails.

Pivot: 1.501

Most Likely Scenario: short positions below 1.501 with targets @ 1.485 & 1.48 in extension.

Alternative scenario: above 1.501 look for further upside with 1.507 & 1.5105 as targets.

Comment: the RSI lacks upward momentum.

GBP/USD Chart

USD/JPY Intraday: under pressure.

Pivot: 122.6

Most Likely Scenario: short positions below 122.6 with targets @ 121.75 & 121.5 in extension.

Alternative scenario: above 122.6 look for further upside with 123.05 & 123.5 as targets.

Comment: the RSI is badly directed.

USD/JPY chart

AUD/USD Intraday: under pressure.

Pivot: 0.7165

Most Likely Scenario: short @ 0.714 with targets @ 0.709 & 0.7065 in extension.

Alternative scenario: above 0.7165 look for further upside with 0.7215 & 0.7235 as targets.

Comment: as long as the resistance at 0.7165 is not surpassed, the risk of the break below 0.709 remains high.

AUD/USD Chart