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Forex Technical Analysis 23.03.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for March 23rd, 2016

EUR USD, “Euro vs US Dollar”

Being under pressure, Eurodollar is falling. In fact, the market reaches new low, forms consolidation channels, breaks them downwards, and continues falling inside the downtrend. The target of this structure is at 1.1000.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has broken its ascending =channel and formed a downside continuation pattern; the target is at 1.3980. We think, today the price may reach 1.4124 and then test 1.4245 from below. After that, the pair may continue falling inside the downtrend.

USD CHF, “US Dollar vs Swiss Franc”

Being under pressure, Franc continues growing. The price is expected to reach 0.9850.

USD JPY, “US Dollar vs Japanese Yen”

After rebounding from the 111.45, Yen has started another ascending structure. The local target is at 113.00. Later, in our opinion, the market may return to 112.18.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is consolidating. The main scenario remains the same – the price is expected to continue forming another descending wave with the target at 0.7500. After that, the pair may test 0.7585 from below.

USD RUB, “US Dollar vs Russian Ruble”

Being under pressure, Russian Ruble is falling; the local target is at 65. Later, in our opinion, the market may form another correction to return to 72 and then start falling towards 60.

XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is also falling. The market is expected to form another wave with the target at 1220, which may be considered only as a half of this descending structure. Later, in our opinion, the price may form another consolidation channel, break it downwards, and then fall to reach 1191.

RoboForex Analytical Department

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