Forex Technical Analysis 31.03.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
31.03.2015
Analysis for March 31st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming a descending structure with the target at level of 1.0625. The pair has formed a continuation pattern near the level of 1.0832 and the target of the third structure will be at level of 1.0693. After reaching it, the price may return to level of 1.0832 (to test it from below) and then continue falling towards the above-mentioned target.
GBP USD, “Great Britain Pound vs US Dollar”
The situation hasn’t changed much; Pound is still moving downwards. We think, today the price may reach level of 1.4400 and then return to level of 1.4660.
USD CHF, “US Dollar vs Swiss Franc”
Franc has broken the top of its first ascending impulse. Such structure implies that the price may form the third wave with the target at level of 0.9825. Later, in our opinion, the market may return to level of 0.9698 and then start another ascending movement with the target at level of 0.9900.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished a correctional wave and right now is forming another descending wave with the target at level of 117.50. Later, in our opinion, the market may return to level of 120.25.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still falling towards level of 0.7607. After reaching it, the price may return to level of 0.7725 and then move downwards to reach a new low and level of 0.7500. Later, in our opinion, the market may form an ascending wave for a serious correction.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has returned to level of 59.50 to test it from below. We think, today the price may fall towards level of 55.00 and then grow to return to level of 58.00. Later, in our opinion, the market may continue falling towards level of 48.00.
XAU USD, “Gold vs US Dollar”
Gold continues forming a descending wave. We think, today the price may reach the target of the fifth wave at level of 1113. Later, in our opinion, the market may return to level of 1250 (at least) and then star another descending movement with the target at level of 1070.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.