Analysis for March 9th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar is forming the descending structure, which may be considered as the correction towards 1.0940. Later, in our opinion, the market may form another ascending structure to reach 1.1067 and then continue falling inside the downtrend with the target at 1.0770.
GBPUSD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is falling. We think, today the price may reach 1.4077 and then complete this correction by growing towards 1.4300. After that, the pair may start another decline with the target at 1.3750.
USDCHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc is moving upwards. We think, today the price may reach 1.0000 and then fall towards 0.9850. Later, in our opinion, the market may start another ascending structure with the target at 1.0055.
USDJPY, “US Dollar vs Japanese Yen”
Being under pressure, Yen is falling. We think, today the price may reach 111.88 and complete this structure. Later, in our opinion, the market may continue growing towards 116.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is consolidating and the top of its ascending structure; this structure may be considered as a reversal one. We think, today the price may form another descending wave with the target at 0.7300 and then test 0.7380 from below. After that, the pair may start another decline with the target at 0.7000
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is consolidating near 72.70. We think, today the price may continue falling inside the downtrend with the local target at 65.00.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating and the top of its ascending wave. The main scenario implies that the price may expand this consolidation channel towards 1248 and then return to its center. Later, in our opinion, the market may break its minimums and continue falling with the target at 1233.
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