Forex Technical Analysis & Forecast 07.03.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the descending impulse along with the correction. Today, the price may form another descending wave to break the low of the first descending impulse. Right now, the pair is consolidating to break 1.0580. The market is expected to reach the local target at 1.0555. After that, the instrument may return to 1.0580 and then continue falling to reach 1.0523.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still forming the third descending wave with the target at 1.2200. After that, the instrument may consolidate, break the range to the upside, and start another correction with the target at 1.2377. Later, in our opinion, the market is expected to form the fifth structure to reach 1.2067.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming another ascending wave. Possibly, today the price may reach 1.0135 and then consolidate to the upside with the local target at 1.0200.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is consolidating. Possibly, today the price may fall towards 113.40. Later, in our opinion, the market may grow with the target at 115.30 and complete the correction. After that, the instrument may reverse and start falling to reach 111.10.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming another correction, which may soon complete. Possibly, today the price may break the ascending channel and start falling towards the local target at 0.7527.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is being corrected towards 57.64. Possibly, today the price may reach this level and start growing with the target at 58.73. In fact, the instrument is expected to start forming the third ascending wave with the local target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold has completed the ascending impulse and right now is being corrected. Possibly, today the price may continue growing to reach 1235.30, break it, and then reach the local target at 1240.00.
BRENT
Brent has completed the ascending structure as a correction. Possibly, today the price may form another descending wave the local target at 54.00.
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.