InvestMacro

Article By RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the asset continues moving downwards. While testing the support area, the pair has formed several reversal patterns, including Doji and Hammer. At the moment, EURUSD may reverse and form a pullback towards the resistance area. In this case, the correctional target may be at 1.1825. However, an alternative scenario implies that the price may continue falling to reach 1.1717 without reversing and correcting.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Harami, while testing the support level. Judging by the previous movements, one may assume that the asset may reverse and resume moving upwards. In this case, the upside target is the resistance area at 110.60. At the same time, an opposite scenario implies that the price may fall to return to 109.25 before resuming the ascending tendency.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, the asset continues trading close to the support level. After forming several reversal patterns there, such as Hammer, EURGBP may rebound from the support level and form a slight pullback. In this case, the correctional target may be the resistance area at 0.8600. Still, there might be an alternative scenario, according to which the asset may return to 0.8500 without reversing and correcting.

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.

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.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1792
• Prev Close: 1.1764
• % chg. over the last day: -0.24%

On Monday, the euro completely leveled the entire Friday growth. The price closed at last week’s lows, which indicated the likelihood of further decline. Positive expectations for the US labor market and negative sentiment in Europe due to new quarantine measures put pressure on the pair.

Trading recommendations

• Support levels: 1.1746, 1.1688
• Resistance levels: 1.1889, 1.1990

The main scenario for trading EUR/USD is selling. There are few important events on the economic calendar today, so low volatility is expected. Technical indicators still show the likelihood of the continuation of the smooth downtrend. The ADX continues to show a subtle reaction at the minimum price decline.

Alternative scenario: if the price gains a foothold above the level of 1.1795, the pair may start a corrective rise to 1.1889 or higher.

News feed for 2021.03.30:

• – The German Consumer Price Index (CPI) (m/m) (Mar) at 15:00 (GMT+3);
• – The US CB Consumer Confidence Index (Mar) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3782
• Prev Close: 1.3758
• % chg. over the last day: -0.17%

The sterling showed higher volatility than the euro on Monday. The growth that took place during the European session completely vanished later in the American session. The price bounced off the moving average on the daily chart, and a bearish engulfing candlestick formed, indicating strong bearish pressure.

Trading recommendations

• Support levels: 1.3680, 1.3610
• Resistance levels: 1.3812, 1.3846

The main scenario for trading GBP/USD is selling. The technical indicators have changed completely. The ADX has shown a strong reaction to the decline. But the price stays between the moving averages, which may indicate the development of a sideways trend. Based on a combination of factors, there is a moderate southern signal.

Alternative scenario: if the pair consolidates above 1.3812, the pound may resume its growth.

News feed for 2021.03.30:

• – The US CB Consumer Confidence Index (Mar) at 17:00 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.74
• Prev Close: 109.80
• % chg. over the last day: +0.05%

In the dollar-yen pair, volatility has eased slightly, but the bullish sentiment remains strong. The fundamentals of the stock market’s growth are still solid, and the dollar is supported by rising bond yields and the expectation of faster economic growth.

Trading recommendations

• Support levels: 109.38, 108.35
• Resistance levels: 110.32, 110.71

The main scenario is buying. The ADX on the H1, the H4, and the D1 timeframes shows the growth of bullish pressure, but the upside potential is slightly reduced. A divergence has formed on the MACD, and this is the first signal for an impending correction. But as long as the price is above the moving averages, buying is safe.

An alternative scenario implies price fixing below 109.38. In this case, the pair could drop to 108.35.

News feed for 2021.03.30:

• – The US CB Consumer Confidence Index (Mar) at 17:00 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2571
• Prev Close: 1.2587
• % chg. over the last day: +0.13%

The Canadian dollar lost the least among the G10 currencies against the US dollar. Continued growth in oil prices ahead of the OPEC + meeting puts pressure on the pair. The daily chart shows that strong resistance has formed, which could trigger a southern pullback or a renewed decline.

Trading recommendations

• Support levels: 1.2574, 1.2446
• Resistance levels: 1.2629, 1.2745

The main scenario is trading in a sideways range between 1.2546 and 1.2629. The ADX fell to its minimum values, and the MACD is at the zero level, which indicates the development of a sideways movement. Since the price bounced twice from the resistance of 1.2629, the likelihood of a correction increased.

Alternative scenario: if the price consolidates below 1.2546, the pair may resume its southern movement to 1.2466.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

By Orbex

USDJPY accelerates rally

The US dollar climbs as the US economy is gaining steam while other parts of the world face new Covid restrictions.

The pair has shot up to last June’s high at 109.85 after it broke out of the consolidation range under 109. The bias remains strongly bullish, though an overbought RSI would suggest a temporary pullback as traders take profit.

In that case, the rising trendline and 20 and 30-hour moving averages would become the demand zone. A deeper retracement may find support from the former resistance at 109.20.

XAUUSD awaits breakout catalyst

A firm US dollar is weighing on gold as Treasury yields hold ground. The recovery stalled after the price broke below the rising trendline, denting the optimism for a swift rebound.

The precious metal is likely to stay range-bound until a catalyst, be it fundamental or technical, triggers a breakout.

1718 is a key support and a bearish breakout could deepen the correction towards 1700.

To the upside, bulls will need to remove 1745 to bring back confidence. After that, an extended rally may carry the price to 1780.

GER 30 surges to new high

Equity markets recovered swiftly after lower-than-expected US personal consumption expenditure quelled the fear of reflation.

The DAX has bounced off the key short-term support at 14430 to challenge the all-time high at 14800.

Solid momentum above a bullish MA cross confirms that buyers are still in control of the price action. A close above 14800 may convince more trend followers to join in and push the index higher.

To the downside, 14590 would be the immediate support for the RSI to cool off.

By Orbex