Forex Technical Analysis & Forecast 31.03.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

31.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still moving downwards. As long as the price is falling, it may extend this wave and reach the targets. Possibly, today the price may consolidate around 1.0678, break it to the downside and then fall towards 1.0606. Later, in our opinion, the market may grow with the target at 1.0707 and then continue falling to reach 1.0508.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has completed the fourth wave to return to 1.2488 and right now is consolidating. The main scenario implies that the price may fall inside the fifth wave towards 1.2357. Later, in our opinion, the market may be corrected with the target at 1.2488.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still forming the ascending structure and right now is consolidating near the lows. Possibly, the price may grow towards 1.0065 and then return to 0.9970. After that, the instrument may grow to reach the local target.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed another ascending structure as the third wave. Possibly, the price may test 111.50 from above and then form the fifth wave towards 112.88. After that, the instrument may be corrected with the target at 111.50.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is falling towards 0.7541. Possibly, today the price may reach the first target at 0.7620.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has completed the third descending wave. Possibly, today the price may be corrected towards 57.06 and then form the fifth wave with the target at 55.50.

 

XAU USD, “Gold vs US Dollar”

Gold is trading to break the low of the first wave. Possibly, today the price may form a continuation pattern at 1242. Later, in our opinion, the market may fall towards the local target at 1233.

 

BRENT

Being under pressure, Brent is moving downwards. Possibly, the price may be corrected with the target at 52.10 to test it from above. After that, the instrument may grow to reach 53.50.

 

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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