Analysis for March 10th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has reached another new low. We think, today the price may continue forming its descending structure with the target at level of 1.0560 and then start a technical correction to test level of 1.1000 (at least) from below.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is under pressure and continues moving downwards. The price is expected to reach level of 1.4850 and then return to level of 1.5200.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues growing. We think, today the price may reach level of 1.0120 and then fall towards level of 0.9675.
USD JPY, “US Dollar vs Japanese Yen”
Yen has extended its ascending structure and reached another high. However, the extensions of the structures have no targets, that’s why this ascending movement may be stopped at any moment by a very strong decline.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues falling. We think, today the price may complete the third wave of the downtrend by forming a wave with the target at level of 0.7570. Later, in our opinion, the market may form the fourth wave, as a correction. The minimum target is at level of 0.8720.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside a descending structure towards level of 57.40. This movement may be considered as the first wave of another descending structure. After that, the pair may start a correction to return to level of 64.00 and then continue falling inside the downtrend as the third wave of the descending structure. The target is at 50.50.
XAU USD, “Gold vs US Dollar”
Gold is still forming a descending structure with the target at level of 1113. We think, today the price may consolidate near level of 1167 and then continue falling inside the downtrend.
RoboForex Analytical Department