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Forex Technical Analysis & Forecast 08.03.2021

EURUSD, “Euro vs US Dollar”

EURUSD is still falling. Possibly, today the pair may reach 1.1883 and then start a new growth towards 1.2000, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 1.2100.

Forex Technical Analysis & Forecast 08.03.2021 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”

GBPUSD has finished the descending structure at 1.3796; right now, it is consolidating there. Possibly, the pair may expand the range down to 1.3773. If later the price breaks this range to the upside, the market may grow to break 1.3895 and then continue trading upwards with the target at 1.4000.

Forex Technical Analysis & Forecast 08.03.2021 GBPUSD
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 falling towards 73.15 and may later grow to reach 73.93. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 72.72.

Forex Technical Analysis & Forecast 08.03.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues extending the ascending wave; it has already reached 108.60. Today, the pair may consolidate below this level. After that, the instrument may break the range to the downside and continue trading downwards with the closest target at 106.47.

Forex Technical Analysis & Forecast 08.03.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming a new ascending structure towards 0.9334 and may later fall to break 0.9230. After that, the instrument may continue trading downwards with the target at 0.9131.

Forex Technical Analysis & Forecast 08.03.2021 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.7719 to the downside, AUDUSD is expected to extend this descending wave to 0.7591. Later, the market may form one more ascending structure with the target at 0.7719.

Forex Technical Analysis & Forecast 08.03.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has finished the ascending wave at 70.00; right now, it is consolidating around this level. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 73.10; if to the downside – start a new correction to reach 68.20.

Forex Technical Analysis & Forecast 08.03.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending wave at 1687.15; right now, it is consolidating around 1700.00. If later the price breaks this range to the upside, the market may start a new growth to reach 1744.00; if to the downside – expand it down to 1673.00.

Forex Technical Analysis & Forecast 08.03.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After falling and reaching 3722.7, the S&P index is expected to form one more ascending structure towards 3866.9 and may later fall to break 3788.2. After that, the instrument may continue trading downwards with the target at 3660.0. However, if the price breaks this range to the downside, the market may start a new growth towards 3973.0.

Forex Technical Analysis & Forecast 08.03.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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