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Forex Technical Analysis & Forecast 10.03.2021

EURUSD, “Euro vs US Dollar”

After finishing the ascending impulse at 1.1915, EURUSD is expected to correct towards 1.1872. After that, the instrument may start a new ascending wave and reach 1.1928.

Forex Technical Analysis & Forecast 10.03.2021 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”

After completing the ascending impulse at 1.3925, GBPUSD is expected to correct towards 1.3851. Later, the market may start another growth with the target at 1.3990.

Forex Technical Analysis & Forecast 10.03.2021 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

After breaking 74.00 to the downside, USDRUB is expected to continue falling towards 73.42. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 73.14.

Forex Technical Analysis & Forecast 10.03.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After finishing the descending impulse at 108.40, USDJPY is expected to correct towards 108.90, thus forming a new consolidation range between these two levels. After that, the instrument may break the range to the downside and continue trading downwards with the first target at 106.93.

Forex Technical Analysis & Forecast 10.03.2021 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 has completed the descending impulse towards 0.9270. Today, the pair may correct to reach 0.9327 and then resume trading downwards with the first target at 0.9131.

Forex Technical Analysis & Forecast 10.03.2021 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating below 0.7719. Possibly, the pair may expand the range down to reach the short-term target at 0.7600. Later, the market may break this level to the downside and continue trading downwards with the first target at 0.7425.

Forex Technical Analysis & Forecast 10.03.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After finishing the correction at 68.00, Brent has broken it to downside. Possibly, today the asset may extend this descending wave to reach the first correctional target at 65.00. After that, the instrument may form one more ascending structure to test 68.00 from below.

Forex Technical Analysis & Forecast 10.03.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is growing towards 1730.25 and may later correct towards 1704.15. After that, the instrument may start another growth with the target at 1788.00.

Forex Technical Analysis & Forecast 10.03.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index is consolidating around 3861.0. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 3925.4 or even 4000.0; if to the downside – start a new decline to reach 3792.0.

Forex Technical Analysis & Forecast 10.03.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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