Analysis for March 18th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating at the top of its ascending wave. The main scenario implies that the price may break this consolidation channel downwards and start a new correction (as wide as the channel, at least) towards 1.1235, or even to return to 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating at the top of its ascending structure. We think, today the price may break the channel downwards and start a new correction towards 1.4376 (at least), or even to return to 1.4256.
USD CHF, “US Dollar vs Swiss Franc”
Franc is consolidating close to its lows. We think, today the price may break the channel, start a new correction towards 0.9752, and then form another descending structure with the target at 0.9602, thus finishing this descending wave. After that, the pair may grow inside the uptrend to reach 1.0500.
USD JPY, “US Dollar vs Japanese Yen”
Yen is consolidating to break 111.00. Possibly, the market may be corrected towards 112.50. After that, the pair may fall to reach 110.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is consolidating at the top of its ascending wave. Possibly, the market may be corrected towards 0.7555. Later, in our opinion, the market may grow to reach 0.7700, thus completing the current uptrend. After that, the pair may start another decline towards 0.7300.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is falling towards 65.00. We think, today the price may form a descending structure with the target at 67.10. Later, in our opinion, the market may test 69.00 from below and then continue falling to reach 65.00.
XAU USD, “Gold vs US Dollar”
Gold is also consolidating. Possibly, the price may break this channel downwards and form a new correction to reach 1247. After that, the market may grow towards 1291.
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