Forex Technical Analysis & Forecast 09.03.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD has formed the consolidation range with the Double Top pattern and broken the range to the downside with two descending impulses. Possibly, today the price may grow to reach 1.2330 at least and then continue falling inside the downtrend with the target at 1.2255.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken the consolidation range downwards. Today, the price may grow towards 1.3839 and then continue falling with the target at 1.3760.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken the top of the first ascending wave. Possibly, today the price may fall to reach 0.9480 and then grow towards the short-term target of the third ascending wave at 0.9599.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has broken the consolidation range upwards and almost formed the five-wave ascending structure. Possibly, today the price fall towards 105.93 and then resume growing to reach 106.46.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading to break the consolidation range downwards. Today, the price may fall to reach 0.7745 and then grow to test 0.7777 from below.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating. If later the instrument breaks 57.00 to the upside, the market may continue growing towards 57.80 or even test 58.38; if to the downside – fall inside the downtrend to reach 55.50. The main downside target is at 54.80.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
XAUUSD, “Gold vs US Dollar”
Gold is forming the descending impulse. Possibly, today the price may reach 1311.00 and then grow toward 1320.00. Later, the market may start another decline to reach 1300.00. Later, the market may start forming a new consolidation range around 1300.00.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
BRENT
Brent has finished the descending structure. Today, the price may start another consolidation range near the lows with a reversal pattern. After breaking the range upwards, the instrument may continue growing towards 64.83. Later, the market may resume falling to reach 64.15.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
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.