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Forex Technical Analysis & Forecast 19.03.2021

EURUSD, “Euro vs US Dollar”

After forming a new consolidation range around 1.1944 and then breaking it to the downside, EURUSD is still correcting towards 1.1903. Possibly, today the pair may return to 1.1944 and then form a new descending structure to reach 1.1925. After that, the instrument may resume trading upwards with the target at 1.2020.

Forex Technical Analysis & Forecast 19.03.2021 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 is correcting towards 1.3888 and may later form one more ascending structure to break 1.3944. After that, the instrument may continue trading upwards with the target at 1.4055.

Forex Technical Analysis & Forecast 19.03.2021 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 continues the ascending correction towards 74.41. Later, the market may resume falling with the target at 72.30.

Forex Technical Analysis & Forecast 19.03.2021 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 around 109.02. Today, the pair may fall to reach 108.70 and then grow to return to 109.02. If later the price breaks this range to the upside, the market may start a new growth to reach 109.44; if to the downside – resume trading downwards with the target at 107.50.

Forex Technical Analysis & Forecast 19.03.2021 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 still consolidating around 0.9250. Possibly, today the pair may fall towards 0.9186 and then form one more ascending structure to return to 0.9250. After that, the instrument may resume trading downwards with the target at 0.9050.

Forex Technical Analysis & Forecast 19.03.2021 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 continues consolidating around 0.7789. Possibly, the pair may expand the range down to 0.7729 and then start a new growth with the target at 0.7861.

Forex Technical Analysis & Forecast 19.03.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After finishing the descending wave at 65.50 and then breaking this level to the downside, Brent has extended this wave down to 61.35, thus continuing the correction. Today, the asset may start another growth towards 65.45 and then resume falling to reach the closest correctional target at 60.00. Later, the market may form one more ascending structure to return to 65.50.

Forex Technical Analysis & Forecast 19.03.2021 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 correcting; after reaching the short-term target at 1720.00, it has returned to 1736.40 to test it from below. Possibly, today the metal may form a new descending structure towards 1717.70 and then resume growing with the target at 1740.00.

Forex Technical Analysis & Forecast 19.03.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After breaking 3940.0, the S&P index is still falling towards 3904.0. After that, the instrument may grow to test 3940.0 from below and then resume moving downwards with the target at 3888.0.

Forex Technical Analysis & Forecast 19.03.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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