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Forex Technical Analysis & Forecast 31.03.2020

EURUSD, “Euro vs US Dollar”

After forming a correctional continuation pattern at 1.1053 and breaking it downwards, EURUSD is trading to reach the short-term target at 1.0980. Later, the market may form one more ascending structure to return to 1.1053 and then resume falling towards 1.0970.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After completing two descending impulses along with the correction at 1.2343, GBPUSD is expected to start the third impulse to reach 1.2185. After that, the instrument may form one more ascending structure with the target at 1.2345.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After breaking the descending channel, USDCHF is still trading upwards. Possibly, the pair may reach 0.9685 and then resume trading downwards with the target at 0.9595.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving upwards. Possibly, today the pair may correct to reach 109.45 and then resume trading inside the downtrend with the target at 108.35.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming a wide consolidation range above 0.6070. After breaking this level to the downside, the instrument may continue trading downwards to reach 0.5920 and then start another growth to return to 0.6070.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 79.75. If later the price breaks this range to the upside, the market may form one more ascending structure towards 82.25; if to the downside – resume trading downwards with the target at 75.95.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading upwards. Today, the pair may reach 1.4300 and then form a new descending structure towards 1.4160. Later, the market may start another growth with the target at 1.4404.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1617.67. Possibly, today the pair may fall to break 1609.00. After that, the instrument may continue trading downwards with the target at 1597.66.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has updated 22.33. Possibly, today the pair may grow towards 24.62 and then form a new descending structure to reach 23.50, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure towards 28.50; if to the downside – resume trading downwards with the target at 22.00.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still trading around 6150.00. The main scenario implies that the instrument may fall towards the downside border of this range at 5700.00 and then start a new growth to break 6600.00. Later, the market may continue trading upwards with the target at 7600.00.

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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