Forex Technical Analysis & Forecast 05.03.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD is forming another descending impulse. Possibly, today the price may fall reach 1.2200. If later the instrument breaks this level to the downside, the market may continue falling inside the downtrend with the short-term target at 1.2055.
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. If later the instrument breaks this range to the upside, the market may continue the correction towards 1.3924; if to the downside – fall inside the downtrend to reach the short-term target of the third descending wave at 1.3460.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating near the lows. Today, the price may grow towards 0.9480. If later the instrument breaks this level to the upside, the market may continue moving upwards 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 has broken the consolidation channel downwards and right now is forming another descending structure towards the target at 104.50. Possibly, today the price may fall towards 104.80 and then grow to reach 108.25. After that, the instrument may continue falling inside the downtrend with the above-mentioned target.
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 near the lows. Today, the price may fall towards 0.7640. The market is expected to form the third wave inside the downtrend. The short-term target is 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 has completed the ascending correctional structure. Possibly, today the price may fall towards 56.50 and then grow to reach 56.85, thus forming another consolidation range. Later, the market may break it to the downside and then continue trading to the downside with the target 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 moving upwards. Possibly, the price may reach 1330.00. Later, the market may form another descending structure towards 1307.00. After breaking this level, the instrument may continue moving downwards with the short-term target at 1288.00.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
BRENT
Brent has broken the consolidation range upwards. Today, the price may continue growing to reach 65.77 and then start another consolidation range around this level.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department