Analysis for March 11th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar expanded its trading range downwards to form the reversal pattern, and then, being influenced by the news, expanded the range upwards as well. The pair has reached its target. However, the form of this ascending movement implies that today the price may be corrected towards 1.1057 and then (an alternative scenario) form another ascending structure with the target at 1.1290. Later, in our opinion, the market may continue falling to reach 1.0770.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached the target of its ascending wave and right now is forming another consolidation channel. The descending impulse isn’t strong enough to reverse the trend downwards so far and may be considered only as the correction towards 1.4277 (at least) or even 1.4115. After that, the pair may start another growth to reach a new high and then form a new descending wave with the target at 1.3750.
USD CHF, “US Dollar vs Swiss Franc”
Franc expanded its trading range upwards and then, being influenced by the news, expanded the range downwards as well. We think, today the price may be corrected to return to 0.9933. Later, in our opinion, the market may fall towards 0.9776 and then start another growth with the target at 1.0200.
USD JPY, “US Dollar vs Japanese Yen”
Yen has rebounded from the upper border downwards and may reach 111.88. As long as the market continues growing, it may expand the consolidation channel towards 116.00 as another correction. However, this growth is quite questionable and may be considered only as an alternative scenario. The main scenario still implies that the price is expected to fall towards 108.40.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating at the top of its ascending wave; this movement may be considered as a possible reversal pattern. We think, today the price may fall towards 0.7400 and then return to 0.7460 to test it from below. After that, the pair may start another decline with the target at 0.7300.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is forming the third wave inside the downtrend. The target is at 65.00. After that, the pair may be corrected towards 72.
XAU USD, “Gold vs US Dollar”
Although Gold has reached a new high, right now it is forming another descending impulse. We think, today the price may reach 1263 and then return to 1274. Later, in our opinion, the market may break the minimum of the first impulse and then continue falling inside the downtrend to form the first descending wave with the target at 1191.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.