Forex Technical Analysis & Forecast 23.03.2021

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.1946, EURUSD is expected to consolidate below this level. Possibly, the pair may correct towards 1.1922 (at least) and then grow to reach 1.1950. Later, the market may start another correction towards 1.1910 and then resume trading upwards with the target at 1.1985.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating around 1.3848. Possibly, today the pair may expand the range down to 1.3810. However, the main scenario implies that the asset may break the range to the upside and then grow to break 1.4000 as well. After that, the instrument may continue trading upwards with the short-term target at 1.4217. On the other hand, the price may break the range to the downside and continue the correction towards 1.3777.

USDRUB, “US Dollar vs Russian Ruble”

After completing the ascending wave at 74.45, USDRUB is expected to consolidate around this level. Possibly, the pair may expand the range up to 75.05 and then form a new descending structure with the target at 74.40.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 108.80. Today, the pair may fall to reach 108.29 and then grow to return to 108.77. Later, the market may start another decline with the target at 107.55.

USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9260, USDCHF is still falling towards 0.9186. After that, the instrument may form one more ascending structure to reach 0.9250 and then resume trading downwards with the target at 0.9123.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7729. Possibly, today the pair may expand the range down to 0.7680 and then resume trading upwards with the target at 0.7844.

BRENT

Brent is consolidating around 63.44. Possibly, the asset may expand the range up to 65.50 and then start a new decline with the first target at 60.00.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1740.18. Possibly, today the metal may form one more ascending structure towards 1761.30 and then start a new correction to reach 1741.40. Later, the market may resume growing with the short-term target at 1803.88.

S&P 500

The S&P index is growing towards 3963.7. After that, the instrument may reach 4000.0 and then start a new correction towards 3925.5, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may resume growing to reach 4160.0; if to the downside – start another correction with the target at 3860.0.