Analysis for March 24th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating; this channel may be considered as a downside continuation pattern. The next target is at 1.1137. After that, the pair may return to 1.1185 and then continue falling inside the downtrend to reach 1.1080.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound continues falling. The target of this wave is at 1.3980. After that, the pair may be corrected towards 1.4230 to test it from below.
USD CHF, “US Dollar vs Swiss Franc”
Franc has rebounded from 0.9730 and right now is forming another ascending structure towards 0.9784. Later, in our opinion, the market may fall to reach 0.9730 and then continue growing towards 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
Yen has almost completed a continuation pattern around 112.53. The next target is at 113.57. Later, in our opinion, the market may fall towards 112.53 and then move upwards to reach 114.28.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has completed its descending wave. We think, today the price may return to 0.7588 and then fall towards 0.7431. And this is just a half of another wave. The local target is at 0.7275.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is consolidating. Possibly, the price may return to 70.28 and then continue falling towards 65.00. Later, in our opinion, the market may form a higher correction with the target at 72.00.
XAU USD, “Gold vs US Dollar”
Gold has finished another descending structure inside the third wave. However, this is just a half of the wave. Right now, the price is forming a continuation pattern. The local target is at 1170.
RoboForex Analytical Department
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