Analysis for March 15th, 2016
EUR USD, “Euro vs US Dollar” After rebounding from 1.1110, Eurodollar continues forming its descending wave with the target at 1.1035. After that, the pair may consolidate. After breaking the minimums, the market may continue falling towards 1.0900.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has broken its descending channel; the market is forming the fifth descending wave with the target at 1.3720. We think, today the price may form the first wave with the target at 1.4079.
USD CHF, “US Dollar vs Swiss Franc”
Franc is growing towards the upper border of its consolidation channel. Earlier, the market already rebounded from this structure. We think, today the price may expend the channel upwards to reach 0.9950.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its ascending stricture and right now is rebounding from 114.05. After that, the pair may fall to reach 111.88 and then grow to return to 113.35.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming another descending wave with the target at 0.7440. After that, the pair may test 0.7522 from below and then start another descending wave towards 0.7340.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is still moving inside a narrow channel towards 65. An alternative scenario implies that the market may be corrected towards 72. Later, in our opinion, the market may continue falling inside the downtrend to reach 65.
XAU USD, “Gold vs US Dollar”
Gold is still falling towards 1209. Later, in our opinion, the market may be corrected to reach 1236 and then continue moving downwards with the target at 1191.
RoboForex Analytical Department