Forex Technical Analysis & Forecast 17.03.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After rebounding from 1.0927, EURUSD continues growing towards 1.1145. Later, the market may form a new descending structure to reach 1.1034 and then resume trading upwards with the target at 1.1177.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the ascending wave at 1.3141, GBPUSD has formed a new consolidation range there. Possibly, the pair may break the range to the upside and form one more ascending wave with the short-term target at 1.3259.

USDJPY, “US Dollar vs Japanese Yen”

After forming a new consolidation range around 118.33, USDJPY has expanded it up to 118.95. Today, the pair may start another decline towards the downside border of the range at 117.63 and then resume growing to return to 118.33. Later, the market may form a new descending wave with the first target at 116.84.

USDCHF, “US Dollar vs Swiss Franc”

Having completed the descending impulse at 0.9400 along with the correction towards 0.9424, USDCHF is falling to break 0.9390. After that, the instrument may continue trading downwards with the short-term target at 0.9355.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the ascending impulse at 0.7298 and then forming a new consolidation range there, AUDUSD has broken it to the upside and may later form one more ascending structure with the short-term target at 0.7393.

BRENT

Brent continues consolidating above 98.60. Possibly, the asset may form one more ascending structure to break 120.50 and then continue trading upwards with the target at 141.90.

XAUUSD, “Gold vs US Dollar”

Gold has finished the correction at 1896.00. Today, the metal may start a new growth with the target at 1986.30 and then resume falling to reach 1940.00.

S&P 500

The S&P index is still consolidating above 4200.0. Possibly, the asset may form one more ascending structure towards 4333.3 and then resume falling to reach 4075.5. Later, the market may start a new growth to return to 4333.3 or even extend this correction up to 4444.4.

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.