Forex Technical Analysis & Forecast 03.03.2020
EURUSD, “Euro vs US Dollar”
After finishing the ascending wave at 1.1181, EURUSD has formed the descending impulse towards 1.1119; right now, it is correcting to reach 1.1155. Today, the pair may form a new consolidation range between the above-mentioned levels. If later the price breaks this range to the downside, the market may resume trading downwards with the short-term target at 1.1069.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still consolidating around 1.2787. According to the main scenario, the price may break the range to the upside and start another correction towards 1.2856. After that, the instrument may form a new descending structure to reach 1.2802 and then resume moving upwards to complete the correction at 1.2902. Later, the market may continue trading inside the downtrend with the target at 1.2587.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has completed another descending structure towards 0.9550; right now, it is consolidating around 0.9585. The main scenario implies that the pair may start another growth with the short-term target at 0.9656.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has reached 107.97; right now, it is consolidating around it. Possibly, the pair may expand the range down to 106.95 and then start another correction to reach 108.88. After that, the instrument may resume trading inside the downtrend with the target at 105.85.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing another ascending impulse at 0.6519, AUDUSD is consolidating around this level. Today, the pair may break this range to the upside and reach 0.6603. Later, the market may start a new correction to return to 0.6519.
USDRUB, “US Dollar vs Russian Ruble”
After finishing the second descending impulse towards 66.25, USDRUB has completed the correction at 67.00. According to the main scenario, the price is expected to reach 66.00 and start another correction to return to 67.00. After that, the instrument may resume its decline with the target at 65.82.
USDCAD, “US Dollar vs Canadian Dollar”
After returning to 1.3384, USDCAD is forming another descending impulse towards 1.3303. Later, the market may start a new correction with the target at 1.3384.
XAUUSD, “Gold vs US Dollar”
After completing the ascending wave at 1609.90, Gold has formed the correction towards 1587.00. Possibly, today the pair may form the second ascending impulse towards 1621.28 and then start a new correction to reach 1602.08. Later, the market may form one more ascending structure with the target at 1641.65.
Brent has finished the second ascending impulse at 53.80. Today, the pair may fall to reach 51.79 and then start another growth with the target at 55.00. After that, the instrument may form a new descending structure towards 48.50.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD has reached its upside target at 8900.00. Possibly, today the pair may correct towards consolidate 8600.00 and then grow to reach 9450.00. Later, the market may form a new descending structure to return to 8900.00.