Forex Technical Analysis & Forecast 24.03.2020
EURUSD, “Euro vs US Dollar”
After forming the first ascending impulse towards 1.0825 and completing the correction at 1.0720, EURUSD has returned to 1.0825; right now, it is forming a new consolidation range around the latter level. Possibly, the pair may start the second ascending impulse to reach 1.0935. Today, the price may break 1.0825 to the upside and expand the range up to 1.0865 and then return to 1.0825 once again to test it from above. Later, the market may resume trading upwards with the short-term target at 1.0935.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is consolidating around 1.1600. Possibly, today the pair may trade upwards to break 1.1812 and then continue growing with the short-term target at 1.2133.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the first descending impulse towards 0.9788 along with the correction at 0.9848, USDCHF is falling with the short-term target at 0.9722.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has rebounded from 111.50 to the downside. Possibly, the pair may form a new descending structure towards 109.63 and then resume trading upwards to reach 110.66. After that, the instrument may start another decline with the short-term target at 108.66.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading upwards to reach 0.6136. After that, the instrument may correct to the downside with the target at 0.5822.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is falling towards 78.38. Later, the market may break this level and continue trading downwards with the short-term target at 76.02.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has finished the ascending impulse towards 1.4527. Possibly, today the pair may resume trading downwards to break 1.4333. Later, the market may continue the descending wave with the short-term target at 1.4177.
XAUUSD, “Gold vs US Dollar”
After breaking 1522.00 upwards, Gold has reached its short-term upside target at 1577.88. Later, the market may start a new decline towards 1541.33 and then form one more ascending structure with the target at 1601.60.
BRENT
Brent has completed the ascending impulse towards 27.77; right now, it is forming a new consolidation range around this level. Today, the pair may form an upside continuation pattern. After breaking 28.80, the instrument may continue trading upwards to reach 30.33. Later, the market may resume falling with the target at 28.00.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is trading to break 6500.00 to the upside. The main scenario implies that the instrument may grow to reach 7500.00 and then correct towards 5700.00. After that, the instrument may start another growth with the target at 7000.00.
