Forex Technical Analysis & Forecast 04.03.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is forming the third descending wave. Possibly, today the pair may form one more descending structure to break 1.1351 and then continue trading inside the downtrend with the short-term target at 1.1296.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the first downside target; right now, it is being corrected. Today, the pair may start a new growth to reach 1.3283. After that, the instrument may resume moving downwards to break 1.3150 and then continue trading inside the downtrend with the short-term target at 1.3030.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming the third ascending wave. Possibly, today the pair may form a new ascending structure to break 1.0012 and then continue growing with the short-term target at 1.0600.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving upwards. Today, the pair may grow to reach 112.09 and then fall towards 111.73. Later, the market may form a new ascending structure with the target at 112.12 and then start a new decline to reach 111.37.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading downwards with the target at 0.7030. Today, the pair may reach 0.7044 and then start a new correction towards 0.7118. Later, the market may r resume moving downwards to break the above-mentioned target and then continue trading inside the downtrend with the short-term target at 0.6922.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 65.65. If later the price breaks range to the upside, the instrument may continue growing to reach 66.20; if to the downside – resume trading inside the downtrend with the short-term target at 62.90.

XAUUSD, “Gold vs US Dollar”

Gold has reached the downside target and extended the structure. Possibly, today the pair may start the first correctional wave upwards with the target at 1300.92. Later, the market may form one more descending structure towards 1294.60 and then start a new growth with the short-term target at 1306.50.

BRENT

Brent is trading below 65.86. Possibly, the pair may form one more descending structure towards 63.95 and then resume moving upwards to reach 65.95, thus forming a new consolidation range. If later the price breaks range to the upside, the instrument may continue growing to reach 68.40; if to the downside – resume trading inside the downtrend with the target at 60.80.