Analysis for March 17th, 2015
Eurodollar has finished an ascending impulse with an extension and right now is correcting it. We think, today the price may form a consolidation channel by falling to reach level of 1.0510. If the market breaks this channel upwards, it may start a correction. The target of this wave is at level of 1.0833.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is still forming an ascending impulse. We think, today the price may reach level of 1.4870 and then fall towards level of 1.4790, thus defining the borders of its consolidation channel. After that, the market may continue growing to reach level of 1.5085.
USD CHF, “US Dollar vs Swiss Franc”Franc is consolidating. We think, today the price may reach a new high and then start falling to break the minimum. The pair is expected to start a correction towards level of 0.9255.
USD JPY, “US Dollar vs Japanese Yen”Yen also continues consolidating. We think, today the price may fall to reach level of 120.30 and then grow to return to level of 121.15.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is still moving inside a descending channel to reach a new low at level of 0.7510. Later, in our opinion, the market may consolidate and form a reversal structure, or even start a correction.
USD RUB, “US Dollar vs Russian Ruble”Ruble is still consolidating without any particular direction. The price is expected to fall towards level of 57.40 and then return to level of 64.00.
XAU USD, “Gold vs US Dollar”Gold is also consolidating. We think, today the price may continue falling inside the downtrend to reach the target at level of 1113. After that, the market may start growing to return to level of 1250.
RoboForex Analytical Department
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