Analysis for March 3rd, 2015
Eurodollar is still consolidating. The main scenario for today remains the same – the price is expected to continue falling; the main target is at level of 1.1000. An alternative scenario implies that the market may try to expand this consolidation channel upwards to return to level of 1.1280 and then continue moving inside the downtrend.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has broken its consolidation channel downwards and may continue falling to reach level of 1.5280. After that, the pair may return to level of 1.5370.
USD CHF, “US Dollar vs Swiss Franc”Franc continues moving upwards. We think, today the price may reach level of 0.9615. One should note that this ascending movement is the result of regulator’s influence and can stop at any moment. The next downside target is at level of 0.8200; a local one – at 0.8830.
USD JPY, “US Dollar vs Japanese Yen”Yen has finished another descending impulse. We think, today the price may start a correction towards level of 119.90. After that, the pair may fall to reach level of 118.30.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is moving upwards and may continue up to level of 0.7925. However, the main scenario hasn’t changed – the price is expected to fall towards level of 0.7680 and then return to level of 0.7830. Thus, these fluctuations of the price may form another consolidation channel.
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.
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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