EUR/USD, “Euro vs US Dollar”
Having completed the descending wave at 1.0383 along with the correction up to 1.0484, EURUSD continues falling towards 1.0355. Later, the market may correct to return to 1.0484 and then resume trading downwards with the target at 1.0300.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the descending wave at 1.2100 along with the correction up to 1.2187, GBPUSD continues falling towards 1.2079 and may later correct up to 1.2200. After that, the instrument may start another decline with the target at 1.2000.
USD/JPY, “US Dollar vs Japanese Yen”
Having finished the descending wave at 135.83 and then forming a new consolidation range around this level, USDJPY has broken it to the downside and may later continue falling with the short-term target at 134.85. After that, the instrument may form one more ascending structure to return to 135.82 and then resume trading downwards to reach 134.66.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF has completed the ascending wave at 0.9600 along with the correction down to 0.9535; right now, it is growing towards 0.9610. After that, the instrument may break this level to the upside and then form one more ascending structure with the target at 0.9685.
AUD/USD, “Australian Dollar vs US Dollar”
After finishing the descending wave at 0.6858 along with the correction up to 0.6915, AUDUSD is forming a new descending structure towards 0.6800. Later, the market may grow to return to 0.6858 and then resume trading downwards with the target at 0.6755.
Brent
Brent is still correcting down to 110.00. After that, the instrument may start another growth with the target at 116.85 or even extend this structure up to 123.00.
XAU/USD, “Gold vs US Dollar”
Gold is falling towards 1799.40. Later, the market may grow to reach 1812.40 and then resume trading downwards with the target at 1791.30.
S&P 500
The S&P index is still falling towards 3690.0. After that, the instrument may correct up to 3817.5 and then form a new descending wave with the target at 3620.0.
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Gold price bulls seem non-committed around $2,620 amid mixed cues
Gold price struggles to capitalize on last week's goodish bounce from a one-month low and oscillates in a range during the Asian session on Monday. Geopolitical risks and trade war fears support the safe-haven XAU/USD. Meanwhile, the Fed's hawkish shift acts as a tailwind for the elevated US bond yields and a bullish USD, capping the non-yielding yellow metal.
Week ahead: No festive cheer for the markets after hawkish Fed
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Bank of England stays on hold, but a dovish front is building
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