Forex Technical Analysis & Forecast 03.04.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

03.04.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is moving downwards with the target at 1.0606; it has expanded its consolidation range to the downside. Possibly, today the price may be corrected to return to 1.0707. Later, in our opinion, the market may continue falling.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is growing towards 1.2589. After that, the instrument may be corrected to reach 1.2513 and then form another ascending structure with the target at 1.2650 to complete the correction. Later, in our opinion, the market may continue falling inside the downtrend to reach 1.2050.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair broke the descending channel. Right now, the market is forming another consolidation range there, which may be considered as an upside continuation pattern. Possibly, the price may reach 1.0065 and then return to 0.9950. After that, the instrument may grow with the target at 1.0082.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is being corrected towards the target at 111.07. Possibly, the price may grow to reach 111.64 and then fall towards the above-mentioned target. Later, in our opinion, the market may grow to reach 112.27.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has completed another descending structure; not it’s a half of the current descending wave. Possibly, today the price may grow towards 0.7640 to test it from below. After that, the instrument may continue falling with the target at 0.7567.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is being corrected. Possibly, today the price may grow towards 57.07 and then start falling with the target at 55.50.

 

XAU USD, “Gold vs US Dollar”

Gold is being corrected as well. Possibly, today the price may reach 1252.80 and then fall towards 1240.60. Later, in our opinion, the market may break this level and for the third wave with the local target at 1228.50.

 

BRENT

Brent is trading above 53.30 and expected to continue moving upwards to reach 54.10. Later, in our opinion, the market may be corrected with the target at 52.30 and then grow to reach 54.30.

 

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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