Forex Technical Analysis & Forecast 20.03.2017 (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 first descending impulse and right now is being corrected with the target at 1.0769. After that, the instrument may fall to break the low of the first impulse. The market is expected to continue forming the descending wave towards 1.0660.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating. Possibly, today the price may reach 1.2419. Later, in our opinion, the market may start moving downwards with the target at 1.2243.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the ascending impulse and right now is being corrected. Possibly, today the price may reach 0.9951. After that, the instrument may grow to break the high of the first impulse. The market is expected to continue forming the ascending wave with the target at 1.0070.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has broken its consolidation range to the downside. Possibly, the price may reach 112.25. Later, in our opinion, the market may start growing with the target at 113.89.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to break the consolidation range to the upside. Possibly, the price may reach 0.7732. After that, the instrument may start another decline towards 0.7610.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating around 57.64. Possibly, today the price may grow to reach 58.81. Later, in our opinion, the market may fall towards he local target at 56.61.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is still moving upwards. Possibly, the price may reach 1236.40. Later, in our opinion, the market may form another descending structure to reach 1205.00. The instrument is expected to continue forming the wave with the target at 1100.00.
BRENT
Brent has completed the descending correctional structure. Possibly, today the price may grow to break 52.11. The first target is at 52.83.
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.