Forex Technical Analysis & Forecast 30.03.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD continues consolidating above 1.1761 without any particular direction. Possibly, today the pair may expand the range down to 1.1751 and then start another correction towards 1.1846. Later, the market may form a new descending structure with the target at 1.1707.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending structure at 1.3754, GBPUSD is expected to resume growing and reach 1.3800. After that, the instrument may start another decline with the target at 1.3708 or even 1.3664.

USDRUB, “US Dollar vs Russian Ruble”

After rebounding from 76.12, USDRUB is still falling towards 75.00 and may later grow to reach 75.70, thus forming a new consolidation range around the latter level. According to the main scenario, the price may break the range to the downside and resume falling with the target at 74.50.

USDJPY, “US Dollar vs Japanese Yen”

After breaking the consolidation range to the upside, USDJPY is still moving upwards. Possibly, the pair may extend this wave up to 110.08 and then resume trading downwards to break 109.40. After that, the instrument may continue falling with the first target at 108.70.

USDCHF, “US Dollar vs Swiss Franc”

After completing the correction at 0.9370, USDCHF is is expected to form one more ascending structure to reach 0.9436 and then start a new decline with the target at 0.9340.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the correction to test 0.7644 from below. Possibly, today the pair may grow to reach 0.7700 and then fall towards 0.7515. After that, the instrument may start a new correction to return to 0.7644 and then resume trading downwards with the target at 0.7450.

BRENT

Brent is still consolidating around 64.00. Possibly, the asset may expand the range up to 65.50 to test this level from below or even extend this correction towards 67.40. Later, the market may form a new descending wave with the target at 60.00.

XAUUSD, “Gold vs US Dollar”

After breaking 1721.44, Gold is still falling. Possibly, today the metal may reach 1697.65 and then form one more ascending structure to return to 1721.44. Later, the market may start a new correction towards 1687.90 and then resume growing with the short-term target at 1776.08.

S&P 500

The S&P index is still moving upwards. Possibly, the asset may reach 4000.0 and then extend this structure up to 4040.0. After that, the instrument may resume falling to break 3946.1 and then continue the correction with the target at 3861.0.

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.