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Forex Technical Analysis & Forecast 02.03.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is forming another descending wave. Possibly, today the price may reach 1.0513. After that, the instrument may be corrected towards 1.0571.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is falling towards 1.2200. Possibly, the price may test 1.2400 from below. 1.2297. Later, in our opinion, the market may continue falling to reach the local target. The main target of this wave is at 1.2067.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still forming the fifth wave with the target at 1.0168. Later, in our opinion, the market may be corrected towards 1.0000.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming the fifth wave with the target at 115.30. After that, the instrument may reverse and start falling towards 111.10.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is falling towards 0.7600. After breaking this level, the price is expected to continue forming the third descending wave to reach 0.7600. The main target of this wave is at 0.7550.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is about to reach 58.73. Possibly, today the price may reach this level, which is the target of the first wave. After that, the instrument may be corrected towards 57.64 and them continue moving upwards with the target at 61.00.

 

XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is moving downwards. Possibly, the price may form the fifth descending structure towards 1231 and then grow to reach 1247, thus forming another consolidation range. If later the instrument breaks this range to the upside; the market may grow to reach 1270; if to the downside – continue falling inside the downtrend with the target at 1211.

 

BRENT

Being under pressure, Brent is falling towards 55.30. Later, in our opinion, the market may grow to reach 56.35 and then start another descending movement with the local target at 54.00.

 

RoboForex Analytical Department

 



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