Forex Technical Analysis & Forecast 06.03.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD is being corrected upwards. Possibly, the price may reach 1.2396 and then continue falling inside the downtrend to break 1.2200. After that, the instrument may move downwards with the short-term predicted target at 1.2020.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken the consolidation range to the upside and may continue moving towards 1.3924 (an alternative scenario, which implies that the correction may yet continue). According to the main scenario, the price is expected to fall inside the downtrend to break 1.3760 and then continue forming the third descending wave with the short-term target at 1.3590.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken the consolidation range upwards. According to the main scenario, the price is expected to continue trading towards 0.9480. If later the instrument breaks this level, the market may continue moving upwards with the short-term target at 0.9620.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has returned to 106.45. Possibly, today the price may fall towards 104.78 and then start another correction to reach 106.30 at least. Later, the market may continue falling inside the downtrend with the target at 104.49.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has finished the correction. Today, the price may fall towards 0.7720, break it, and then continue trading to the downside with the target at 0.7640.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is falling towards 56.50. After that, the instrument may grow to reach 56.90 and then resume falling towards 55.50. Later, the market may break it to the downside and then continue trading to the downside with the target at 54.80.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating at the top; this structure may be considered as a correction. If later the instrument breaks this range to the downside, the market may continue falling to return to 1307.00. After that, the instrument may break this level as well and then move downwards to reach 1288.00.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
BRENT
Brent has broken the consolidation range upwards to continue growing and right now is forming a new range. If later the instrument breaks this range to the upside, the market may trade to break 66.26 and then continue growing towards 66.90.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
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.