Analysis for March 5th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar has expanded its trading range; the pair hasn’t been able to form a correction and right now it continues moving inside the downtrend. The price is expected to reach level of 1.1000. A continuation pattern at level of 1.1200 may force the market to fall and reach level of 1.0870.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is under pressure and continues moving downwards; the pair has formed another continuation pattern inside the downtrend. We think, today the price may reach level of 1.5190 and then form a correction to return to level of 1.5370. After that, the pair may continue falling to reach level of 1.4850.
USDCHF, “US Dollar vs Swiss Franc”
Franc is moving upwards without any corrections. We think, today the price may extend the current structure towards level of 0.9730.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still consolidating. We think, today the price may fall to break level of 119.50. The target is at level of 118.80.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. We think, today the price may continue falling to level of 0.7680 and then return to level of 0.7780.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside a descending structure towards level of 57.40. This movement may be considered as the first wave of another descending structure. After that, the pair may start a correction to return to level of 64.00 and then continue falling inside the downtrend as the third wave of the descending structure. The target is at 50.50.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating. If the price breaks this channel downwards, the downtrend may continue. The main target is at level of 1113. However, if the price breaks the channel upwards, it may form a correction to return to level of 1250. In any case, after that the market is expected to fall towards the above-mentioned target.
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