Forex Technical Analysis & Forecast 01.03.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair hasn’t been able to fix above 1.0600; it has rebounded from the high and right now is moving downwards. The market has broken the low of the range and almost formed the Double Top pattern. Possibly, the price may continue falling inside the downtrend to reach 1.0507. After that, the instrument may return to 1.0568.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is trading to break 1.2388. In fact, the price may continue falling to reach 1.2297. Later, in our opinion, the market may return to 1,2388 and then start another decline with the target at 1.2067.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/CHF pair is growing. Possibly, the price may reach 1.0168. Later, in our opinion, the market may be corrected towards 1.0067 and then continue growing inside the uptrend.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is moving upwards as well. Possibly, the price may continue growing with the target at 115.30. After that, the instrument may reverse and fall inside the downtrend.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed the descending wave along with the correction. Possibly, today the price may continue falling inside the downtrend. The next target is at 0.7600.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is forming the fifth ascending wave. Possibly, today the price may reach 58.73. After that, the instrument may fall towards 57.64 and them continue moving upwards with the target at 61.00.
XAU USD, “Gold vs US Dollar”
Gold has formed the closest target of the correction. Possibly, today the price may grow towards 1250. Later, in our opinion, the market may form another descending structure with the target at 1238 and then resume growing to reach 1270.
BRENT
Brent is falling towards 55.30. Later, in our opinion, the market may be corrected to reach 56.35 and then start another descending movement with the target at 54.00.
RoboForex Analytical Department
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.