Forex Technical Analysis & Forecast 03.03.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

03.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has reached its downside target. Possibly, today the price may continue falling to reach 1.0472. After that, the instrument may be corrected towards 1.0550.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still falling inside the third wave towards the target at 1.2200. Possibly, right now the price is forming another consolidation range. If later the instrument breaks this range to the upside; the market may test 1.2377 from below and then continue falling to reach the above-mentioned target; if to the downside – reach the local target at then start a new correction towards 1.2377.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is trading to break the top of the ascending wave. Possibly, today the price may test 1.0115 from above and then grow with the target at 1.0168. Later, in our opinion, the market may be corrected towards 1.0010.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming the fifth wave with the target at 115.30. Possibly, today the price may test 114.00 from above and then grow to reach 115.30. After that, the instrument may reverse and start falling towards 111.10.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has reached its predicted target. Possibly, today the price may be corrected towards 0.7605 to test it from below. Later, in our opinion, the market may fall with the target at 0.7474.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has reached the target of the first ascending wave. Possibly, today the price may form another consolidation range. After breaking this range to the downside, the instrument may be corrected towards 57.64.

 

XAU USD, “Gold vs US Dollar”

Gold has reached the target of the descending wave. Possibly, today the price may consolidate. After breaking this range upwards, the instrument may be corrected with the target at 1247.50.

 

BRENT

Brent has reached its downside target. Possibly, today the price may form another consolidation range. Later, in our opinion, the market is expected to break the range to the upside and reach 56.35. After that, the instrument may start another descending movement with the target at 54.00.

 

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.

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