Forex Technical Analysis 12.03.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
12.03.2015
Analysis for March 12th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has reached the target of its extension. We think, today the price may start consolidating and form a reversal structure. The pair is expected to form a correction towards level of 1.100 (at least).
GBP USD, “Great Britain Pound vs US Dollar”
Pound has broken its consolidation range downwards. We think, today the price may continue moving downwards to reach level of 1.4850. Later, in our opinion, the pair may consolidate for a while and form a reversal pattern for a new correction with the target at level of 1.5200.
USD CHF, “US Dollar vs Swiss Franc”
Franc has extended its structure and reach the upside target. We think, today the price may consolidate and form a reversal structure. The pair is expected to form a descending correction towards level of 0.9670 (at least).
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving near the top of its ascending wave. We think, today the price may form the second descending impulse. The pair may fall towards level of 119.40 and (as an alternative) try to reach another new high. After that, the market may continue falling inside the downtrend.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached its local downside target. We think, today the price may try to form an ascending impulse and form a correction to return to level of 0.8700 (at least). An alternative scenario implies that the market may reach another low and then start an ascending correction.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating. We think, today the price may fall to reach level of 57.40. After that, the pair may return to level of 63.00 and then continue falling inside the downtrend to reach the target at level of 50.50.
XAU USD, “Gold vs US Dollar”
Gold is attempting to form an ascending structure. We think, today the price may test level of 1165 from below and then continue falling inside the downtrend. The main target is at level of 1113.
RoboForex Analytical Department
Attention!
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.