Forex Technical Analysis & Forecast 11.03.2020

11.03.2020

EURUSD, “Euro vs US Dollar”

After breaking the low of the first descending impulse and reaching the target at 1.1279, EURUSD is correcting towards 1.1356. After that, the instrument may form a new descending structure with the target at 1.1231.

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 finishing the first descending wave at 1.2876, GBPUSD is moving upwards to reach 1.3040. Later, the market may resume falling with the target at 1.2787.

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 completing the ascending wave at 0.9400, USDCHF is correcting towards 0.9300. Later, the market may start a new growth with the target at 0.9425.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the ascending wave at 105.89. Possibly, today the pair may move downwards with the target at 103.18 and then form one more ascending structure towards 106.00.

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

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the descending wave at 0.6465, AUDUSD is expected to start a new growth towards 0.6577. Later, the market may break this level and then continue trading upwards with the target at 0.6686.

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 has formed a new consolidation range around 72.04. Today, the pair may fall with the first target at 68.96 and then start a new correction to return to 72.04.

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 consolidating around 1.3645; it has expanded the range up to 1.3795. Possibly, today the pair may form a new descending structure to reach 1.3583 and then resume growing with the target at 1.3690.

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

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1664.64. Possibly, the pair may expand the range down to 1639.71 and then form one more ascending structure to return to 1664.64.

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

BRENT

Brent has broken the descending channel to the upside. Today, the pair may grow towards 40.76. Later, the market may start a new decline to reach 37.25 and then resume trading upwards with the first target at 43.39.

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

BTCUSD, “Bitcoin vs US Dollar”

After completing the ascending impulse at 8125.00, BTCUSD is correcting towards 7777.00. The main scenario implies that the instrument may grow to return to 8125.00, break this level, and then continue trading upwards with the short-term target at 8400.00.

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.