Analysis for March 11th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving downwards. We think, today the price may reach level of 1.0560 and then start consolidating and forming a reversal structure. The pair is expected to return to level of 1.1000 (at least).
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still consolidating. We think, today the price may continue moving downwards to reach level of 1.4850. Later, in our opinion, the pair may form a correctional structure.
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 completed a descending impulse and corrected it. We think, today the price may break the minimum of this impulse and then continue falling to reach level of 119.40.
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. We think, today the price may form the fourth wave, as a correction with the target at level of 0.8720 (at least).
USD RUB, “US Dollar vs Russian Ruble”
Ruble, influenced by the decline of the crude oil prices, hasn’t been able to continue strengthening. We think, today the price may continue forming a descending structure towards level of 57.40. After that, the pair may return to level of 63.00 and then continue falling inside the downtrend.
XAU USD, “Gold vs US Dollar”
After forming a descending impulse, Gold is consolidating. We think, today the price may break this consolidation channel downwards to reach level of 1113 and complete this descending wave. Later, in our opinion, the market may return to level of 1250 (at least).
RoboForex Analytical Department