Analysis for March 10th, 2016
Eurodollar is forming another descending impulse. We think, today the price may break its consolidation channel downwards and then continue forming this wave with the target at 1.0860. Later, in our opinion, the market may test 1.0946 from below and then continue falling to reach 1.0840.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Being under pressure, Pound is falling. We think, today the price may reach 1.4073 and then complete this correction by growing towards 1.4300. After that, the pair may start another decline with the target at 1.3750.
USD CHF, “US Dollar vs Swiss Franc”Franc is moving at the top of its consolidation channel. We think, today the price may reach 1.0055 and then test 0.9955 from above. Later, in our opinion, the market may start another growth with the target at 1.0250.
USD JPY, “US Dollar vs Japanese Yen”Although Yen has grown a bit higher than we expected, the main scenario still implies that the pair may fall towards 111.88. Later, in our opinion, the market may grow to reach 114.27. in fact, the pair is consolidating and forming triangle pattern.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is forming another descending impulse. We think, today the price may reach the target at 0.7400. After that, the pair may test 0.7460 from below and then start another decline with the target at 0.7200.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble has expanded its trading range downwards. In fact, the pair is forming the third wave inside the downtrend with the target at 65.00. We think, today the price may test 72.60 from below and then continue falling.
XAU USD, “Gold vs US Dollar”Gold is still falling to reach 1237. Later, in our opinion, the market may grow towards 1257 and then continue falling with the target at 1191.
RoboForex Analytical Department
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