Forex Technical Analysis & Forecast 09.03.2020
EURUSD, “Euro vs US Dollar”
EURUSD has broken 1.1230 to the upside and may continue growing towards 1.1512. After that, the instrument may start a new correction to reach 1.1217 and then form one more ascending structure towards 1.1669.
GBPUSD, “Great Britain Pound vs US Dollar”
After breaking 1.2999 to the upside, GBPUSD has reached 1.3123. Possibly, the pair may fall towards 1.3049 and then form one more ascending structure to reach 1.3130 or even 1.3159. Later, the market may start a new decline with the target at 1.2950.
USDCHF, “US Dollar vs Swiss Franc”
After breaking 0.9350, USDCHF is still trading downwards. Possibly, the pair may fall to reach 0.9065 and then start a new correction with the target at 0.9460.
USDJPY, “US Dollar vs Japanese Yen”
After breaking 105.44 to the downside, USDJPY has reached 101.85. Possibly, today the pair may start another growth towards 103.50 and then resume trading inside the downtrend with the target at 100.75.
AUDUSD, “Australian Dollar vs US Dollar”
After rebounding from 0.6657 to the downside, AUDUSD has reached the target at 0.6336. Today, the pair may resume trading upwards to reach 0.6624 and then form a new descending structure with the target at 0.6252.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is moving upwards. Possibly, today the pair may break 68.48 and then continue growing with the short-term target at 72.48. After that, the instrument may start a new correction towards 68.50 and then resume trading upwards with the target at 74.24.
USDCAD, “US Dollar vs Canadian Dollar”
After breaking 1.3460, USDCAD has reached 1.3707. Later, the market may correct towards 1.3520 and then continue trading inside the uptrend with the key target at 1.3850.
XAUUSD, “Gold vs US Dollar”
After finishing the ascending wave at 1694.40, Gold is correcting towards 1656.80. After that, the instrument may form one more ascending structure with the target at 1715.20.
BRENT
After breaking its consolidation range to the downside at 45.20, Brent has reach 34.20. Today, the pair may consolidate near the current lows. If later the price breaks this range to the upside, the market may start a new correction towards 41.75; if to the downside – resume trading inside the downtrend with the target at 20.65.
BTCUSD, “Bitcoin vs US Dollar”
After reaching 8200.00 and forming a new consolidation range around 8153.00, BTCUSD has broken it to the downside; right now, it is extending the descending wave with the short-term target at 7600.00. After that, the instrument may start a new correction to return to 8000.00 and then form a new descending structure towards 7150.00.
