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Forex Technical Analysis & Forecast 31.03.2021

EURUSD, “Euro vs US Dollar”

After reaching its short-term downside target, EURUSD is expected to consolidate near the lows. Possibly, the pair may expand the range down to 1.1700. Later, the market may break the descending channel and resume trading upwards with the target at 1.1990.

Forex Technical Analysis & Forecast 31.03.2021 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 descending structure at 1.3706 along with the correction towards 1.3743, GBPUSD is expected to resume falling and reach 1.3703. After that, the instrument may start another correction to return to 1.3743 and then form a new descending structure with the target at 1.3643.

Forex Technical Analysis & Forecast 31.03.2021 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 still consolidating around 75.50. According to the main scenario, the price may form a new descending structure with the target at 75.00 or even reach 74.50.

Forex Technical Analysis & Forecast 31.03.2021 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 completing another ascending wave at 110.88, USDJPY is expected to consolidate below this level. Possibly, the pair may break the range to the downside and resume trading downwards with the first target at 109.25.

Forex Technical Analysis & Forecast 31.03.2021 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 ascending wave at 0.9440, USDCHF is expected to consolidate below this level. Possibly, the pair may break the range to the downside and start a new correction towards 0.9337. Later, the market may form one more ascending structure with the target at 0.9454.

Forex Technical Analysis & Forecast 31.03.2021 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 has rebounded from 0.7648 to the downside. Today, the pair may fall to reach 0.7454 and then resume trading upwards with the target at 0.7734.

Forex Technical Analysis & Forecast 31.03.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating around 64.00 without any particular direction. If later the price breaks the range to the upside, the market may start another growth to reach 67.40; if to the downside – form a new descending wave with the target at 61.00.

Forex Technical Analysis & Forecast 31.03.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After finishing the descending wave at 1680.40, Gold is consolidating above this level. If later the price breaks the range to the upside, the market may start another correction with the target at 1706.10; if to the downside – expand it down to 1666.50.

Forex Technical Analysis & Forecast 31.03.2021 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 still consolidating around 3946.1 If later the price breaks the range to the upside, the market may start another growth to reach 4000.0; if to the downside – form a new descending wave towards 3906.4 and then resume growing with the target at 4040.4.

Forex Technical Analysis & Forecast 31.03.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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