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Forex Technical Analysis 16.03.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for March 16th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is consolidating around 1.1090. This consolidation channel may be considered as a downside continuation pattern. The local target is at 1.1000.

GBP USD, “Great Britain Pound vs US Dollar”

Being under pressure, Pound is moving downwards. We think, today the price may reach 1.4090, return to 1.4235, and then fall again towards 1.4030.

USD CHF, “US Dollar vs Swiss Franc”

Franc is forming a consolidation channel to break 0.9880 upwards. The pair is expected to reach 0.9976 and then return to 0.9880.

USD JPY, “US Dollar vs Japanese Yen”

Yen is consolidating. We think, today the price may test 113.80 again. After that, the pair may fall to reach 111.88 and then grow to return to 113.30.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming another descending wave. We think, today the price may reach the target at 0.7340. So far, the market wasn’t able to form a correction within this descending structure. After reaching the target, the pair may form the above-mentioned correction towards test 0.7438 (at least). Later, in our opinion, the market may continue falling inside the downtrend to reach 0.7200.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is being corrected. Possibly, the price may test 72 from below. Later, in our opinion, the market may continue falling inside the downtrend to reach the local target at 65.

XAU USD, “Gold vs US Dollar”

Gold is consolidating around 1231. We think, today the price may break the minimum and then continue falling towards 1209. The target of this descending wave is at 1191.

RoboForex Analytical Department

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