Forex Technical Analysis & Forecast 22.03.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.1944; right now, it is trading close to the downside border. Possibly, the pair may grow to break 1.1944 and then continue trading upwards with the first target at 1.2020.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating around 1.3862. The main scenario implies that the pair may grow to break 1.4000 and then continue trading upwards with the short-term target at 1.4217.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues consolidating around 74.00. Possibly, today the pair may expand the range up to 74.45 and then start a new descending correction with the target at 73.50.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 108.77. Today, the pair may fall to reach 108.50 and then grow to return to 108.77. Later, the market may start another decline with the target at 107.55.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9260 without any particular direction. Possibly, today the pair may fall towards 0.9186 and then form one more ascending structure to reach 0.9250. After that, the instrument may break the range to the downside and resume trading downwards with the target at 0.9050.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the ascending wave at 0.7844, AUDUSD has finished the correction towards 0.7729. Possibly, today the pair may grow to break 0.7844 and then continue trading upwards with the short-term target at 0.7989.

BRENT

Brent is growing to test 65.50 from below. Later, the market may resume falling to reach the first target at 60.00 and then start a new correction to the upside to return to 65.50.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1741.30. Possibly, today the metal may form one more ascending structure towards 1763.30 and then start a new correction to reach 1741.44. Later, the market may resume growing with the short-term target at 1783.96.

S&P 500

After finishing the descending wave at 3888.0, the S&P index is growing towards 3940.4 and may later form a new consolidation range there. If the price breaks this range to the upside, the market may resume growing to reach 4000.0; if to the downside – start a new correction with the target at 3777.0.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.