Forex Technical Analysis & Forecast 03.04.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has reached another downside target at 1.1185; right now, it is being corrected. Today, the pair may fall to reach 1.1202 and then continue the correction towards 1.1231. Later, the market may continue trading inside the downtrend with the short-term target at 1.1165.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating; it has formed another ascending structure to reach the upside border. Possibly, today the pair may form a new descending structure to break 1.3081 and then continue trading downwards, thus forming the Flag correctional pattern. According to the main scenario, the price is expected to continue trading inside the downtrend with the first target at 1.2950.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still forming the third ascending wave with the target at 1.0008; by now, it has returned to 0.9973. Possibly, the pair may form a new descending structure to reach 0.9965. According to the main scenario, the price is expected to continue growing to reach 1.0008, at least.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading upwards; it is trying to break the upside border of the range. Possibly, the pair may break 111.49 and then continue growing to reach 111.69. After that, the instrument may start a new correction with the target at 110.72 and then form one more ascending structure towards 112.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has rebounded from 0.7030 and returned to the center of the range. According to the main scenario, the price is expected to continue trading inside the downtrend with the target at 0.7030. An alternative scenario implies that the pair may break 0.7133 and then continue trading upwards to reach 0.7165. Later, the market may start a new decline towards 0.6993.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating above 65.19. Possibly, the pair may break this level and form a reversal pattern for a new downtrend with the first target at 64.60. In fact, the price is expected to start the fifth wave to the downside towards 62.77.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1292.00. According to the main scenario, the price is expected to break the range to the downside and continue forming the third wave with the target at 1260.00. If the pair breaks 1300.00, the market may choose an alternative scenario and start another correction towards 1312.31. Later, the market may resume trading downwards with the short-term target at 1260.00.

BRENT

Brent is still trading upwards. Today, the pair may reach 70.88 and then start another correction towards 68.60. After that, the instrument may be form one more ascending structure with the target at 73.03.