Analysis for March 28th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating near 1.1165. We think, today the price may fall towards 1.1000. An alternative scenario implies that the market may return to 1.1200. After that, the pair may continue falling inside the downtrend to reach 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is falling with the target at 1.3970. An alternative scenario implies that the market may grow to reach 1.4245. After that, the pair may be fall towards the above-mentioned target.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached its local upside target. We think, today the price may fall towards 0.9726 and then grow to reach 0.9805. After that, the pair may fall towards 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the local target of its ascending structure. We think, today the price may fall towards 112.50 and the form another ascending structure to reach 114.26. Later, in our opinion, the market may move downwards.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is consolidating. If the price breaks this consolidation channel upwards, it may be corrected up to 0.7587; if downwards – the downtrend may continue to reach 0.7400.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is consolidating near 69. The main scenario suggests that the price may continue falling to reach 65. After that, the pair may start another correction to return to 72.
XAU USD, “Gold vs US Dollar”
Gold has broken the minimum of its consolidation channel and may fall to reach its local target at 1170. Later, in our opinion, the market may be corrected towards 1220 and then start another decline to reach 1160.
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Editors’ Picks
AUD/USD regains the constructive outlook above the 200-day SMA
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EUR/USD keeps the bullish performance above 1.0700
The continuation of the sell-off in the Greenback in the wake of the FOMC gathering helped EUR/USD extend its bounce off Wednesday’s lows near 1.0650, advancing past the 1.0700 hurdle ahead of the crucial release of US NFP on Friday.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Bitcoin price rises 5% as BlackRock anticipates a new wave of capital inflows into BTC ETFs from investors
Bitcoin (BTC) price slid to the depths of $56,552 on Wednesday as the cryptocurrency market tried to front run the Federal Open Market Committee (FOMC) meeting. The flash crash saw millions in positions get liquidated.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.