Forex Technical Analysis 04.03.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
04.03.2015
Analysis for March 4th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is under pressure and continues falling. We think, today the price may break the minimum and reach level of 1.1100. After that, the pair may form a correction to return to level of 1.1270 and then continue moving inside the downtrend towards level of 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues falling. We think, today the price may reach level of 1.5280 and then return to level of 1.5370. After that, the pair may form another descending structure with the target at level of 1.5260.
USD CHF, “US Dollar vs Swiss Franc”
Franc has expanded its trading range and reached its target. We think, today the price may fall to reach level of 0.9500; the structure of this descending movement may help us to predict the future scenario. Possibly, the market may start the new downtrend with the target at level of 0.8200.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished the correction towards its descending impulse. Right now, the market is consolidating; it has already renewed the minimum of the above-mentioned impulse. Such scenario implies that the pair may continue forming this descending wave. The target of this wave is at level of 118.70.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. We think, today the price may continue falling to level of 0.7680 and then return to level of 0.7780.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside a descending structure towards level of 57.40. This movement may be considered as the first wave of another descending structure. After that, the pair may start a correction to return to level of 64.00 and then continue falling inside the downtrend as the third wave of the descending structure. The target is at 50.50.
XAU USD, “Gold vs US Dollar”
Gold is consolidating. If the price breaks this channel downwards, the downtrend may continue. The main target is at level of 1113. However, if the piece breaks the channel upwards, it may form a correction to return to level of 1250. In any case, after that the market is expected to fall towards the above-mentioned target.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.