Forex Technical Analysis & Forecast 17.03.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

17.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has formed another consolidation range in the form of the Triangle pattern and broken it to the upside. Possibly, the price may grow to reach 1.0782. After that, the instrument may fall to expand the range to the downside. The target is at 1.0650.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has broken its consolidation range upwards. Possibly, the price may reach 1.2383. Later, in our opinion, the market may form the fifth descending wave with the target at 1.2072.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has broken its consolidation range downwards. Possibly, the price may expand it towards 0.9950. After that, the instrument may break the range to the downside and grow to reach the first target at 1.0070.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is consolidating near its lows. Possibly, today the price may fall towards 112.32. Later, in our opinion, the market may start growing with the target at 113.92.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is consolidating. If later the market breaks this consolidation range to the downside, it may be corrected to reach 0.7612; if to the upside – grow with the target at 0.7732. After that, the instrument may start another decline towards 0.7620.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is still consolidating; it has completed the descending correctional structure. Possibly, today the price may grow to reach 58.81.

 

XAU USD, “Gold vs US Dollar”

Gold is still consolidating as well. Possibly, today the price may expand the range towards 1236. Later, in our opinion, the market may form another descending structure to reach 1205.

 

BRENT

Brent has completed the ascending impulse. Possibly, today the price may be corrected towards 51.28. After that, the instrument may break the top of this impulse. The target is at 54.50.

 

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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