Forex Technical Analysis & Forecast 03.04.2020

03.04.2020

EURUSD, “Euro vs US Dollar”

After completing the second half of the descending wave at 1.0830, EURUSD is consolidating near the lows. Today, the pair may test form one more ascending structure to break 1.0880 and then continue trading upwards with the short-term target at 1.0900.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues consolidating around 1.2343 without any particular direction. Possibly, today the pair may fall towards 1.2200 and then grow to return to 1.2343. If later the price breaks this range to the downside, the market may form a new descending structure towards 1.2055; if to the upside – trade upwards with the target at 1.2555 (an alternative scenario to extend the correction) and then resume moving inside the downtrend.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending structure at 0.9747, USDCHF is consolidating near the highs. Today, the pair may trade downwards to break 0.9700 and then continue the correction with the target at 0.9666.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the correctional structure at 108.14. The main scenario implies that the price may form a new descending wave to break 107.25. Later, the market may continue trading downwards with the short-term target at 106.25.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.6066 to the downside. Possibly, today the pair may test this level from below and then continue falling with the short-term target at 0.5918.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending structure at 77.30. According to the main scenario, the price is expected to break this level to the downside and then continue trading downwards with the short-term target at 75.44.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is still consolidating above 1.4060. Today, the pair may resume trading downwards with the short-term target 1.3825.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is consolidating above 1605.50. Possibly, today the pair may resume falling to break 1602.32. After that, the instrument may continue trading downwards with the target at 1586.70.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing the second ascending impulse at 34.06, Brent is correcting with the target at 24.35. Later, the market may start another growth to reach the first target at 35.86.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is forming a new ascending structure towards 7330.00, which may later be followed by another correction to reach 6600.00. After that, the instrument may resume growing towards 7500.00 and then start a new correction with the target at 5600.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.