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Forex Technical Analysis & Forecast 02/03/2020

EURUSD, “Euro vs US Dollar”

EURUSD has suspended its rally up and is consolidating around the level of 1.1045. Today a correction is expected to fall to the level of 1.1020, after which a decline to 1.0995 is possible. If the upper limit of the consolidation range at the level of 1.1064 is broken, then we will wait for the achievement of the level of 1.1098.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD regains its position and is aimed at the level of 1.2860, at the breakout of which the growth potential will be opened to 1.2894. If the British pound is not strong enough, it is possible to decline to 1.2800 and further to 1.2765.

USDCHF, “US Dollar vs Swiss Franc”

The Swiss franc habitually mirrors the movements of EURUSD. Today the USDCHF is expected to rise to 0.9677, if the pair manages to break the level of 0.9655. If the Franc is strong enough, it is expected to reach the level of 0.9610.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around the level of 108.25. Today the continuation of the general tendency to decrease to the levels of 107.77 and further to 107.35 is expected. If the US dollar is stronger, then the target level will be 108.70.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trying to regain its position, lost at the end of February. Today it is possible to reach the level of 0.6555. After which, a return to 0.6525 is possible.

USDRUB, “US Dollar vs Russian Ruble”

After the rapid growth of USDRUB last week, today the market took a break and brings the Russian ruble to balance. Today the pair is expected to fall to the level of 66.00.

USDCAD, “US Dollar vs Canadian Dollar”

As expected, USDCAD reached the level of 1.3333. Today it is possible to achieve 1.3300, after which a rebound back to 1.3333 and the development of the consolidation range is possible.

XAUUSD, “Gold vs US Dollar”

After a sharp decline to the level of 1563.40, gold regained its position a little and is now consolidating around the level of 1598.00. If the pressure on the decline is stronger, then today we can see XAUUSD at the level of 1590.00 or even at 1587.00.


In late February, Brent showed a steady downward movement and reached the level of 49.29. Today the instrument has played several points and is trading around the level of 51.70. If the February trend continues, then the target levels will be 50.25 and 49.30. If the situation stabilizes with the beginning of March, then today we may well see 52.30 and 53.30.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD reached its many-month low at 8415.00. The continuation of the general trend towards a decrease to the level of 8200.00 is expected.


Forecasts should not be considered as guidance for trading.