Forex Technical Analysis 17.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

17.03.2014

Analysis for March 17th, 2014

EUR USD, “Euro vs US Dollar”

Euro is still moving inside ascending channel with target at level of 1.4100. We think, today price may reach local target at 1.3990 and then form descending correction towards level of 1.3800. Later, in our opinion, instrument may continue its ascending movement towards main target at level of 1.4100.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still moving inside consolidation channel; market is forming descending structure towards level of 1.6550. We think, today price may reach it and then complete flag pattern by falling down towards level of 1.6530. Later, in our opinion, instrument may continue growing up towards level of 1.7000.




USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating near level of 0.8730. We think, today price may continue falling down towards level of 0.8670, consolidate for a while, and then continue falling down towards main target at 0.8300.




USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating near level of 101.80. We think, today price may continue falling down towards target at level of 100.00. Alternative scenario implies that instrument may return to level of 102.50 and then continue moving downwards to reach above-mentioned target.




AUD USD, “Australian Dollar vs US Dollar”

After making another descending movement, Australian Dollar is forming consolidation channel. We think, today price may move downwards to reach level of 0.8900, form another consolidation channel, and then continue falling down to reach level of 0.8720.




USD RUB, “US Dollar vs Russian Ruble”

After a gap up, Ruble is still consolidating and may continue growing up towards level of 37.50. Later, in our opinion, instrument may fall down towards level of 36.50 and then form new ascending structure to reach level of 38.50.




XAU USD, “Gold vs US Dollar”

Gold continues moving inside ascending channel with target at level of 1490; market hasn’t been able to form any correction yet. We think, today price may consolidate near current levels and then continue growing up to reach above-mentioned target.



 
RoboForex Analytical Department

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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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