Forex Technical Analysis & Forecast 04.04.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD has broken the downside border of the consolidation range and may continue falling towards 1.2208. Possibly, today the price may return to 1.2284 and then move downwards to reach 1.2230. Later, the market may consolidate around this level and then resume falling inside the downtrend towards the short-term target at 1.2208.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken the consolidation range upwards and completed the correction at 1.4096. Today, the price may fall to reach 1.4000, break it, and then continue moving inside the downtrend with the short-term target at 1.3930.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken the consolidation range upwards and may reach 0.9615. Possibly, today the price may return to 0.9568 and then grow towards 0.9615. After that, the instrument may form another descending structure to return to 0.9568 and then resume moving inside the uptrend with the target at 0.9700.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still forming the fifth ascending wave with the target at 107.74. Right now, the price is forming the first structure of this wave; the target is at 106.69. Later, the market may start another correction towards 106.17 and then resume moving upwards to reach 107.30.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is moving upwards; it may start another correction with the target at 0.7777. Today, the price may reach 0.7754 and then fall towards 0.7701. After that, the instrument may resume moving inside the uptrend to reach the above-mentioned target.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is moving upwards. Possibly, the price may reach 57.94, fall to break the downside border of the range at 56.68, and then continue moving inside the downtrend with the target at 54.80.
XAUUSD, “Gold vs US Dollar”
Gold has completed another descending impulse and right now is being corrected. The target is at 1335.00. Later, the market may form another descending structure towards 1325.00 and then start another correction to reach 1334.00.
BRENT
Brent continues consolidating near the lows. Possibly, today the price may grow towards 68.08 and then start another decline to reach 67.50.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.