Forex Technical Analysis & Forecast 06.03.2020

06.03.2020

EURUSD, “Euro vs US Dollar”

After forming another consolidation range around 1.1178, EURUSD has broken it to the upside. Possibly, the pair may extend the wave up to 1.1260. Today, the price may reach 1.1250 and then fall to return to 1.1185. After that, the instrument may form one more ascending structure towards 1.1260 to complete the wave and then resume trading downwards with the target at 1.1170.

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”

After forming the consolidation range around 1.2870 and breaking it to the upside, GBPUSD has reached the short-term correctional target at 1.2960; right now, it is forming a new consolidation range around it. Possibly, today the pair may fall to test 1.2870 from above and then start a new growth towards 1.3010.

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 forming another consolidation range around 0.9565, USDCHF has broken it to the upside to reach 0.9444. Today, the pair may form grow towards 0.9515 and then fall to reach 0.9474, thus forming a new consolidation range between these two levels. After that, the instrument may start a new growth with the target at 0.9600.

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

USDJPY, “US Dollar vs Japanese Yen”

After breaking the consolidation range downwards and extending the wave, USDJPY has reached the target at 105.85. Possibly, today the pair may start another growth towards 107.10 and then form a new descending structure to reach 106.38, thus forming a new consolidating rage between these two levels. Later, the market may break the range to the upside and resume trading upwards with the target at 109.00.

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 is still consolidating above 0.6580. If later the price breaks this range to the downside, the market may start a new correction to reach 0.6520; if to the upside – resume trading upwards with the target at 0.6700.

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 is consolidating around 66.86. If later the price breaks this range to the upside, the market may grow to reach 67.97 or even extend this wave up to 68.20; if to the downside – start a new decline with the target at 65.25.

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 around 1.3410. Possibly, the pair may expand the range down to 1.3379 and then form one more ascending structure with the short-term target at 1.3494.

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

XAUUSD, “Gold vs US Dollar”

After forming the consolidation range around 1639.00, Gold has broken it to the upside. According to the main scenario, the instrument is expected to form one more ascending structure with the target at 1694.00. Possibly, today the pair may reach 1688.40 and then start a new correction towards 1652.00. Later, the market may resume trading upwards with the above-mentioned target.

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

BRENT

Brent has broken its consolidation range to the downside. Today, the pair may fall to reach 59.40 and then start another growth with the target at 51.25. Later, the market may form a new descending structure towards 48.50 to complete this wave and then resume trading upwards to reach 55.05.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has broken 8900.00 to the upside; right now, it is trading around 9000.00. Possibly, the pair may continue growing with the short-term target at break 9400.00. After that, the instrument may start a new correction to return to 9000.00 and then form one more ascending structure with the first target at 9600.00.

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.