Analysis for March 30th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has reached the target of its ascending structure and, being influenced by the fundamental background, may move according to an alternative scenario, which implies that it may grow towards 1.1400 at once. We shall consider this scenario after the pair reaches 1.1333. After that, the market may return to 1.1256 and then start another ascending movement towards 1.1370, which may be stopped at any moment by another decline inside the downtrend with the target at 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has formed a continuation pattern near 1.4285. We think, today the price may grow to reach the upper border of its consolidation channel at 1.4431. After that, the pair may return to 1.4270.
USD CHF, “US Dollar vs Swiss Franc”
Franc has broken 0.9700 and may continue falling towards 0.9600. Later, in our opinion, the market may return to 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its descending structure and broken the ascending channel. We think, today the price may continue falling towards 111.69 and then test 112.50 from below. Later, in our opinion, the market may move downwards with the target at 110.30.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, Australian Dollar continues moving upwards. We think, today the price may reach 0.7660 and then test 0.7570 from above. After that, the pair may move according to an alternative scenario and grow towards 0.7700.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is still consolidating. We think, today the price may reach 69.40 and then continue falling towards 65.00. Later, in our opinion, the market may start a higher correction with the target at 72.00.
XAU USD, “Gold vs US Dollar”
Gold has completed its correction to return to 1241. We think, today the price may test the minimum of the first descending wave from below. Later, in our opinion, the market may fall towards 1194 and then return to 1234.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.