Forex Technical Analysis & Forecast 01.03.2022

EURUSD, “Euro vs US Dollar”

After completing another descending wave at 1.1140 along with the correction towards 1.1245, EURUSD is expected to form one more descending structure to return to 1.1140. Later, the market may break the latter level and continue trading downwards with the short-term target at 1.1040.



GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.3381. Possibly, the pair may form a new descending wave to break 1.3273 and then continue falling with the short-term target at 1.3145.



USDRUB, “US Dollar vs Russian Ruble”

Markets are closed. After opening, USDRUB is expected to return to 92.00. If later the price breaks this level to the downside, the asset may resume falling with the target at 75.00.



USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming the descending structure towards 114.80 and may later start a new growth to reach 115.81. After that, the instrument may resume trading downwards with the target at 114.40.



USDCHF, “US Dollar vs Swiss Franc”

Having completed the descending wave at 0.9170, USDCHF is consolidating near the lows. Today, the pair may expand the range down to 0.9159 and then resume trading upwards to break 0.9200. Later, the market may continue growing with the target at 0.9300.



AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7199; it has already expanded the range up to 0.7265. Possibly, the pair may resume falling to break 0.7150 and then continue trading downwards with the target at 0.7070.



BRENT

After completing the correction at 99.50, Brent is growing to break 103.30. Later, the market may continue growing with the target at 107.00.



XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1906.00. Possibly, today the metal may grow to break 1937.00 and then form one more ascending structure with the short-term target at 1995.15.



S&P 500

The S&P index is still consolidating around 4230.0. Today, the asset may start a new decline with the first target at 4070.0.



Source: Roboforex

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