Forex Technical Analysis & Forecast 08.03.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has finished the descending impulse along with the correction. Possibly, today the price may break the downside border of the current trading range. The first downside target is at 1.2333. After that, the instrument may return to 1.2383 and then continue forming the third wave inside the downtrend to reach 1.2200.

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

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating. Today, the price may fall towards 1.3790 and then grow to reach 1.3870. Later, the market may continue falling inside the downtrend with the target at 1.3630.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has broken the consolidation range upwards. Possibly, the price may grow to reach 0.9480 and then fall towards 0.9400. After that, the instrument may start another growth with the short-term target at 0.9620.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating below 106.50. Possibly, today the price may continue consolidating. Right now, the instrument is trading in the center and may move towards either 106.46 or 105.25. If later the pair breaks this range to the upside, the market may continue growing towards 106.85; if to the downside – fall to reach 104.78

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating. Today, the price may reach 0.7850 and then fall towards 0.7777. After breaking this level, the instrument may continue forming the third wave inside the downtrend with the short-term target at 0.7570.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating. If later the instrument breaks 57.00 to the upside, the market may continue growing towards 57.50; if to the downside – fall inside the downtrend to reach 55.50. The main downside target is at 54.80.

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

XAUUSD, “Gold vs US Dollar”

Gold is forming the descending impulse. Possibly, today the price may reach 1330.00 and then fall towards the first target at 1320.00. Later, the market may start another correction to reach 1330.00, thus forming a new consolidation range. After breaking this range to the downside, the instrument may continue forming the third descending wave with the target at 1307.00.

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

BRENT

Brent has broken the consolidation range downwards. Possibly, the price may start another correction towards 63.80 and then grow to reach 64.85. After that, the instrument may form another descending structure towards 63.35 to complete the correction. Later, the market may continue growing inside the uptrend to reach 67.00.

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

RoboForex Analytical Department