GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3045; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2975 and then resume moving upwards to reach 1.3315. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.2780. In this case, the pair may continue falling towards 1.2675.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1656.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1625.00 and then resume moving upwards to reach 1720.00. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1605.00. In this case, the pair may continue falling towards 1575.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3623; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3565 and then resume moving upwards to reach 1.3845. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3305. In this case, the pair may continue falling towards 1.3210.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair continues growing. By now, EURUSD has completed several reversal candlestick patterns, such as Shooting Star, close to the resistance level. Right now, the pair is still reversing. We may assume that later the price may move to reach 1.1250. However, one shouldn’t exclude a possibility that the price may continue growing without any pullbacks towards 1.1250.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the fundamental background made USDJPY fall. After testing the support level, the price has formed several reversal patterns, including Hammer. Right now, the pair is reversing. The current situation implies that the price may grow to reach 107.10. At the same time, the pair may choose another scenario, according to which the instrument is expected to continue falling towards 101.20 after a slight correction.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after testing the resistance level again, EURGBP has formed several reversal patterns, such as Shooting Star. Right now, the pair is reversing. At the moment, we may assume that later the market may form a new pullback towards 0.8645. However, one shouldn’t exclude an opposite scenario, which implies that the instrument may continue the rising tendency with the target at 0.8800.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair continues growing. By now, EURUSD has completed several reversal candlestick patterns, such as Shooting Star, close to the resistance level. Right now, the pair is still reversing. We may assume that later the price may move to reach 1.1250. However, one shouldn’t exclude a possibility that the price may continue growing without any pullbacks towards 1.1250.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the fundamental background made USDJPY fall. After testing the support level, the price has formed several reversal patterns, including Hammer. Right now, the pair is reversing. The current situation implies that the price may grow to reach 107.10. At the same time, the pair may choose another scenario, according to which the instrument is expected to continue falling towards 101.20 after a slight correction.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after testing the resistance level again, EURGBP has formed several reversal patterns, such as Shooting Star. Right now, the pair is reversing. At the moment, we may assume that later the market may form a new pullback towards 0.8645. However, one shouldn’t exclude an opposite scenario, which implies that the instrument may continue the rising tendency with the target at 0.8800.

Yesterday, AUDUSD updated its all-time lows; later it managed to recover a little bit, but still remains under pressure.

On Tuesday morning. the Australian Dollar recovered a bit against the USD but is still looking very insecure. The current quote for the instrument is 0.6550.

Yesterday, the Aussie updated its all-time lows against the USD and tested 0.6310 – is seems like the national currency has never been so cheap. This decline is the result of financial panic that “flooded” global markets yesterday. After the collapse of OPEC+ and considering the lack of any distinct economic prospects relating to the oil extraction, investors all over the world started avoiding risks and switching to “safe haven” assets. As a result, the Aussie got under pressure, just like a lot of other traded currencies.

By now, AUDUSD has recovered a little bit but the long-term downtrend is still dominating.

The statistics published in the morning showed that the NAB Business Confidence in Australia dropped to -4 points in February after being -1 point in the previous month. However, it was difficult to expect any different after forest fires this winter and the current coronavirus outbreak.

As for the numbers from China, the CPI showed 5.2% y/y in February, the same as expected, after being 5.4% y/y the month before.

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the convergence on MACD made EURUSD start a quick and steady growth. By now, the pair has reached 38.2% fibo and may later start a new pullback. The next upside targets may be 50.0% and 61.8% fibo at 1.1665 and 1.1874 respectively. The key support is the low at 1.0777.

In the H4 chart, the pair is approaching 23.6% fibo at 1.1325. The next downside target may be 38.2% and 50.0% fibo at 1.1221 and 1.1136 respectively. The resistance is the high at 1.1495.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the daily chart, after breaking a significant low at 104.45 and testing the post-correctional extension area between 138.2% and 161.8% between 101.50 and 99.64 respectively, USDJPY has returned to the low again.

In the H1 chart, the pair is correcting after a descending impulse. The price is heading towards 38.1% fibo at 105.40 and may continue moving towards 50.0% fibo at 106.72. if the price breaks the support at 101.18, the mid-term downtrend will continue.

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending structure at 1.1494; right now, it is falling. Possibly, the pair may break 1.1353 and then continue trading downwards with the short-term target at 1.1230. After that, the instrument may form one more ascending structure to reach 1.11366 and then start a new decline towards 1.1215.

GBPUSD, “Great Britain Pound vs US Dollar”

After reaching 1.3199, GBPUSD has finished the ascending wave; right now, it is moving downwards. Possibly, the pair may fall to break 1.3044 and then continue falling with the short-term target at 1.2936.

USDCHF, “US Dollar vs Swiss Franc”

After finishing перу descending wave at 0.9177, USDCHF is trading upwards with the short-term target at 0.9440. Later, the market may correct to reach 0.9318 and then start a new growth towards 0.9460.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving upwards with the target at 104.40. After that, the instrument may start another correction towards 103.17 and then form one more ascending structure with the first target at 105.25.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the ascending impulse at 0.6670, AUDUSD is correcting towards 0.6456. Later, the market may resume trading upwards to break 0.6616 and then continue growing with the target at 0.6750.

USDRUB, “US Dollar vs Russian Ruble”

In the case of USDRUB, there was a gap in the morning and the pair reached 75.20. Due to slumping oil prices, the instrument is not traded by the regulator’s order. After the market opening, the price may fall towards 68.18.

USDCAD, “US Dollar vs Canadian Dollar”

Due to a gap to the upside in the morning, USDCAD has reached its first upside target at 1.3755. Today, the pair may form a new descending structure to break 1.3535 and then continue the correction with the short-term target at 1.3444.

XAUUSD, “Gold vs US Dollar”

Gold is forming the first descending impulse towards 1655.44. After that, the instrument may form one more ascending structure towards 1680.00, thus forming a new consolidation range between these two levels. According to the main scenario, the pair is expected to continue falling with the first target at 1602.00.

BRENT

Due to a gap to the downside, Brent has reached the target at 31.40; right now, it is growing with the short-term target at 39.05. After that, the instrument may correct towards 36.36 and then start a new growth with the first target at 41.71.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is growing towards 8100.00. Later, the market may correct to reach 7855.00, thus forming a new consolidation range between these two levels, the main scenario implies that the instrument may break the range to the upside and start a new growth with the target at 8600.00.

After updating its multi-month highs again, the major currency pair switched to an expected correction.

The Euro is correcting against the USD on Tuesday morning. The current quote for the instrument is 1.1360.

It’s quite interesting that financial panic that “flooded” global markets yesterday supported the major currency pair, which was testing 1.15. A quick spread of the Chinese coronavirus in Italy, one of the most financially troubled countries in Europe, doesn’t scare Euro investors and that’s, to put it mildly, quite unusual.

The statistics published yesterday were not too positive. The Sentix Investor Confidence dropped to 17.1 points in March after being 5.2 points before. The report turned out to be an excellent indication of what is happening in the Area’s financial system.

The German Industrial Production added 3.0% m/m in January after losing 2.2% m/m in December and against the expected reading of +1.7% m/m. A good report.

Later in the evening, market players will watch, if they calm down a bit, of course, the January Industrial Production reports from Italy and France. Another thing worth paying attention to is the revised GDP of the Euro Area for the first quarter of 2020, which may show +0.1% q/q.

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is moving close to the “overbought area”. In this case, the price may break 8/8 and then continue trading downwards to reach 5/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may start a new growth towards the resistance at +2/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, the pair is moving above 4/8. In this case, GBPUSD is expected to break 5/8 and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 and fixes below it. After that, the instrument is expected to continue falling to reach the support at 2/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2950; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2880 and then resume moving upwards to reach 1.3105. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.2765. In this case, the pair may continue falling towards 1.2685. After breaking the descending channel’s upside border and fixing above 1.3010, the price may resume moving upwards.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1679.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1655.00 and then resume moving upwards to reach 1725.00. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1600.00. In this case, the pair may continue falling towards 1565.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3406; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3375 and then resume moving upwards to reach 1.3525. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3305. In this case, the pair may continue falling towards 1.3185. After breaking the Triangle’s upside border and fixing above 1.3450, the price may resume moving upwards.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, Gold has completed the correction; right now, it continues the ascending tendency. At the moment, the pair is reversing after finishing an Engulfing pattern and may later reach 1705.00. After that, XAUUSD may test the channel’s upside border, rebound from it, and then resume falling towards 1635.50. However, one shouldn’t ignore another scenario, according to which the instrument may return to 1635.50 without testing the resistance line.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after breaking the descending channel’s upside border, NZDUSD has formed an Engulfing reversal pattern. Right now, the pair is expected to reverse. We may assume that after reversing the price may reach 0.6230 and then continue falling. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow to return to 0.6350.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the pair is no longer trading inside the descending channel. By now, GBPUSD has formed several reversal patterns, such as Shooting Star, close to the resistance level. Possibly, the pair may reverse and return to 1.2785. Later, the market may continue falling to reach the channel’s downside border and continue the descending tendency. However, there is another scenario, which implies that the instrument may grow towards 1.3010.