Analysis for March 14th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has completed the descending wave and corrected it. We think, today the price may form another descending wave with the target at 1.1080 and then start consolidating. After breaking the minimums, the pair may continue falling towards 1.0980. An alternative scenario implies that the market may grow to reach 1.1285.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has finished its ascending wave. We think, today the price may form another descending structure with the target at 1.4070. The first part is at 1.4254. After that, the pair may return to 1.4352.
USD CHF, “US Dollar vs Swiss Franc”
We think, today Franc may grow to reach the target at 0.9942; the first target is at 0.9880. Later, in our opinion, the market may fall towards 0.9835 and then start another growth to reach the main target.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming the ascending structure towards 114.05. After that, the pair may fall to reach 111.83 and then return to 113.33, thus continue forming its consolidation channel. According to the main scenario, the pair may continue falling inside the downtrend. The next target is at 110.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming another descending impulse. We think, today the price may form the wave with the target at 0.7340 and then start another correction towards 0.7467.
USD RUB, “US Dollar vs Russian Ruble”
We think, today Russian Ruble may be corrected towards 72. Later, in our opinion, the market may continue falling inside the downtrend to reach 65.
XAU USD, “Gold vs US Dollar”
Gold has completed its descending impulse and today is expected to be corrected towards 1266. Later, in our opinion, the market may fall to reach 1236. After breaking this level, the local target will be at 1206.
RoboForex Analytical Department