Forex Technical Analysis & Forecast 05.03.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is still forming the third descending wave. Possibly, today the pair may reach 1.1350 to test it from below and then form one more descending structure with the short-term target at 1.1292. After that, the instrument may start a new correction to return to 1.1350 and then resume trading inside the downtrend towards 1.1280.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading downwards and forming the third descending wave. The predicted target is at 1.3000.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still forming the third ascending wave. Possibly, today the pair may reach 1.0030 and then start a new correction towards 0.9997. After that, the instrument may continue growing with the target at 1.0070.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is being corrected and forming the Flag pattern. Today, the pair may fall to reach 111.58 and then form a new ascending structure with the target at 112.35.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading downwards. Possibly, the pair may reach 0.7040 and then start a new growth towards 0.7118. Later, the market may resume trading inside the downtrend with the target at 0.7030.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 65.65 without any particular direction. If later the price breaks range to the upside, the instrument may continue growing to reach 66.20; if to the downside – resume trading inside the downtrend with the short-term target at 62.90.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1290.05. If later the price breaks range to the upside, the instrument may be corrected to reach 1310.60; if to the downside – resume trading downwards with the target at 1277.50.

BRENT

Brent has rebounded from 65.80; right now, it is falling towards 63.95. Later, the market may form one more ascending structure towards 68.40.