Forex Technical Analysis & Forecast 09.03.2022

EURUSD, “Euro vs US Dollar”

After forming a new consolidation range around 1.0886, EURUSD is correcting towards 1.0963. Later, the market may form a new descending structure to reach 1.0793 and then resume growing with the target at 1.1040.



GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating below 1.3113. Possibly, today the pair may grow towards 1.3145 and then start a new decline to reach 1.3065. After that, the instrument may resume trading upwards with the target at 1.3217.



USDRUB, “US Dollar vs Russian Ruble”

The situation hasn’t changed much; markets are closed. After opening, USDRUB is expected to return to 90.00 – it’s the downside border of the range around 107.00. 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 has finished another correctional wave at 115.85; right now, it is consolidating there. Possibly, the pair may break the range downwards and continue trading within the downtrend to reach or even break 115.23. Later, the market may continue falling with the target at 114.40.



USDCHF, “US Dollar vs Swiss Franc”

Having completed the ascending wave at 0.9300, USDCHF is consolidating there. Today, the pair may break the range to the downside and resume trading downwards with the target at 0.9222.



AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming the descending impulse towards 0.7186. After that, the instrument may start a new correction with the target at 0.7310.



BRENT

After rebounding from 124.67, Brent continues trading upwards to reach 137.77. Later, the market may correct to return to 124.67 and then form one more ascending structure with the target at 154.50.



XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending wave at 2070.40. Today, the metal may correct down to 2012.90 and then form one more ascending structure with the target at 2112.30.



S&P 500

The S&P index is trading to rebound from 4236.0 and may later resume falling towards 4070.6. After that, the instrument may correct to return to 4236.0 and then form a new descending structure with the target at 3850.0.



Source: Roboforex

Related Posts