Forex Forecast for 18.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

March 18, 2014

EUR USD, “Euro vs US Dollar”

Euro is still moving inside ascending structure. We think, today price may move upwards to reach level of 1.3980 and then fall down towards level of 1.3915. Later, in our opinion, instrument may grow up again towards level of 1.3990, return to level of 1.3900, and then continue its ascending movement towards main target at level of 1.4100.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still moving inside consolidation channel; market is forming descending structure towards level of 1.6550. We think, today price may reach it and then complete flag pattern by falling down towards level of 1.6530. Later, in our opinion, instrument may continue growing up towards level of 1.7000.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating near level of 0.8730; market has formed triangle pattern. . We think, today price may continue falling down towards level of 0.8670, consolidate for a while, and then continue falling down towards main target at 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen continues forming ascending structure; it looks like market is going to break descending channel. We think, today price break it, consolidate for a while, and then continue growing up towards level of 102.48. Later, in our opinion, instrument may start forming another descending structure to reach level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar tried to continue its ascending movement, but market started falling down instead and right now is forming another descending impulse. We think, today price may reach level of 0.9000, form another consolidation channel, and then continue falling down to reach level of 0.8900.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is consolidating inside triangle pattern and forming descending structure to return to level of 36.30. We think, today price may move upwards to break pattern’s upper border and reach level of 36.80. Later, in our opinion, instrument may fall down towards level of 36.35 and then form new ascending structure to reach level of 37.50.

XAU USD, “Gold vs US Dollar”

Gold is forming ascending structure towards level of 1350. This structure may be considered as part of continuation pattern. Later, in our opinion, instrument may continue moving inside ascending channel with target at level of 1490.

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