Forex Technical Analysis & Forecast 15.03.2021
EURUSD, “Euro vs US Dollar”
After finishing the correction at 1.1910, EURUSD has started another growth towards 1.2000; right now, it is forming a new consolidation range around 1.1960 as an upside continuation pattern. Possibly, the pair may reach 1.2000 and then start a new correction to return to 1.1960.
GBPUSD, “Great Britain Pound vs US Dollar”
After completing the correction at 1.3864, GBPUSD has started another wave to the upside; right now, it is forming a new consolidation range around 1.3935. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 1.4015.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 73.50. Possibly, the pair may expand the range down to 73.15 and then start a new correction with the target at 73.66.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 108.88. Today, the pair may expand the range up to 109.40 and then resume trading downwards with the target at 108.40.
USDCHF, “US Dollar vs Swiss Franc”
After completing the descending structure at 0.9233, USDCHF has finished the correction towards 0.9327. Today, the pair may continue falling towards 0.9186. Later, the market may start a new correction to reach 0.9270 and then resume trading downwards with the target at 0.9023.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing the ascending structure at 0.7800 along with the descending wave towards 0.7740, AUDUSD is expected to grow and reach 0.7860. Later, the market may start another correction with the target at 0.7740.
BRENT
Brent has formed a new consolidation range around 68.86. Possibly, today the asset may break it to the upside and reach 70.80. After that, the instrument may start a new decline towards 68.85 and then form one more ascending structure with the target at 71.20.
XAUUSD, “Gold vs US Dollar”
After completing the correction at 1700.44, Gold is expected to grow towards 1743.15 and may later correct to reach 1721.72. After that, the instrument may form one more ascending structure with the target at 1772.50.
S&P 500
The S&P index is trading to reach 4000.0. Later, the market may correct towards 3850.0 and then resume moving upwards with the target at 4126.0.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.