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Forex Technical Analysis & Forecast 12.03.2021

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.1988, EURUSD is correcting. Possibly, the pair may complete the correction and form one more ascending wave with the first target at 1.2011.

Forex Technical Analysis & Forecast 12.03.2021 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 wave at 1.3988, GBPUSD is forming a new consolidation range around this level. If later the price breaks this range to the downside, the market may start a new correction towards 1.3930; if to the upside – resume trading upwards with the target at 1.4123.

Forex Technical Analysis & Forecast 12.03.2021 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 finishing the descending wave at 73.40, USDRUB is expected to form a new consolidation range around this level. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 72.20.

Forex Technical Analysis & Forecast 12.03.2021 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 is still consolidating at the top. Possibly, today the pair may fall to break 108.28 and then continue trading downwards with the short-term target at 107.68.

Forex Technical Analysis & Forecast 12.03.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After completing the descending structure at 0.9260, USDCHF is forming a new consolidation range around this level. Today, the pair may continue falling towards 0.9186. Later, the market may start a new growth to test 0.9260 and then resume trading downwards with the target at 0.9131.

Forex Technical Analysis & Forecast 12.03.2021 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 growing towards 0.7797. Later, the market may resume trading downwards with the first target at 0.7600 and then start another correction to reach 0.7710.

Forex Technical Analysis & Forecast 12.03.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is growing to reach 69.91. After that, the instrument may start a new decline towards 68.,68 and form one more ascending structure with the target at 70.70, thus continuing the wave towards 90.00.

Forex Technical Analysis & Forecast 12.03.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After completing the ascending wave at 1739.44, Gold is expected to correct towards 1710.40 and may later grow to reach 1743.00. After that, the instrument may start another correction with the target at 1710.50.

Forex Technical Analysis & Forecast 12.03.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After breaking 3926.0 to the upside, the S&P index is expected to test this level from above. Later, the market may grow to reach 3973.0 and then correct to return to 3926.0. After that, the instrument may resume trading upwards with the target at 4000.0.

Forex Technical Analysis & Forecast 12.03.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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