Forex Technical Analysis & Forecast 21.03.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

21.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has completed the descending structure and right now is forming the ascending one, which may be considered as the fourth wave. Possibly, today the price may consolidate at the top. Probably, the market may grow to reach 1.0773. After that, the instrument may fall towards 1.0711.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has completed the first descending impulse along with the correction. Possibly, today the price may form another descending structure to break the low of the first impulse. The market is expected to start moving downwards with the target at 1.2243.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has rebounded from the center of the consolidation range and right now is trading to break 0.9900 to the upside. Possibly, the price may reach 1.0089. After that, the instrument may be corrected towards 0.9900 and then start another ascending structure with the target at 1.0070.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached the downside target. Possibly, the price may grow to reach 113.07 and then start consolidating. If the market breaks this consolidation range upwards, the instrument may reach the target at 113.89.

 

AUD USD, “Australian Dollar vs US Dollar”

Being under pressure, the AUD/USD pair is moving downwards. Possibly, the price may form the wave to reach 0.7610. After that, the instrument may start another growth towards 0.7700. In fact, the market is expected to start another consolidation range.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is trading to rebound from the center of the consolidation range downwards. If later the market breaks this consolidation range to the downside, it may fall to reach 56.50; if to the upside – complete the correction at 58.90.

 

XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is moving downwards; it has broken the low of the first impulse. Possibly, the price may form the first wave with the target at 1223.10 and then return to 1229.90. Later, in our opinion, the market may fall to break the low of the range. The target is at 1211.00.

 

BRENT

Being under pressure, Brent is moving upwards with the target at 52.80. After that, the instrument may form another consolidation range, break it to the upside, and then continue growing to reach 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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