Forex Technical Analysis & Forecast 18.03.2021
EURUSD, “Euro vs US Dollar”
EURUSD is forming the fifth ascending wave with the target at 1.2011; right now, it is consolidating around 1.1966. Possibly, the pair may fall to test 1.1944 from above and then grow towards 1.1995. After that, the instrument may correct to return to 1.1933 and then resume trading upwards with the above-mentioned target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is forming the fifth ascending wave with the target at 1.4055. Possibly, after breaking 1.3929 and then reaching 1.3977, the asset is falling to test 1.3935 from above and may later resume growing towards 1.4917. After that, the instrument may correct to return to 1.3935 and then start another growth to reach the above-mentioned target.
USDRUB, “US Dollar vs Russian Ruble”
After rebounding from 72.55 and then completing the correction at 73.90, USDRUB is expected to start a new decline to break 73.13. Later, the market may continue falling with the target at 72.32.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed the correction towards 108.61. Today, the pair may grow to break 109.03 and then continue trading upwards to reach 109.45. After that, the instrument may form a new descending wave with the target at 107.85.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken 0.9252 to the downside. Possibly, the pair may continue falling to reach 0.9186 and then form one more ascending structure with the target at 0.9276.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD continues trading towards 0.7860. Later, the market may correct downwards with the target at 0.7750.
BRENT
Brent is forming a wide consolidation range around 67.77. If later the price breaks this range to the upside, the market may start a new growth to reach 69.00; if to the downside – continue the correction with the target at 65.00.
XAUUSD, “Gold vs US Dollar”
Gold has completed the ascending wave at 1755.10. Possibly, today the metal may correct towards 1727.47 and then form one more ascending structure to break 1777.70. Later, the market may continue growing with the target at 1900.00.
S&P 500
The S&P index is growing towards 4000.0 and may later start a new correction to reach 3861.8. After that, the instrument may resume moving upwards with the target at 4126.0.
