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Forex Technical Analysis & Forecast 03/03/2020

EURUSD, “Euro vs US Dollar”

EURUSD again showed unusual daily volatility – almost 150 points of non-stop upward movement. Although the “round” level of 1.1200 has not been reached, traders have already lost the habit of this behavior of this pair. Today there is still the possibility of growth to a three-month high – 1.1240. If EURUSD will be corrected, then the target levels will be 1.1100 and 1.1070.

GBPUSD, “Great Britain Pound vs US Dollar”

The British pound stopped in the range of consolidation between the levels of 1.2790 and 1.2740. In case of exit from this range up, the target levels will be 1.2807 and 1.2856. In case of going down, possible targets will be at levels 1.2725 and 1.2705.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating above the level of 0.9575. In case of exit from the range up, the first target level will be 0.9600. In case of going down, the target will be a return to semi-annual lows at 0.9544. In case of breakdown of this level, the potential for movement to 0.9490 and 0.9445 will be opened.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY remained in the same price range after testing the level of 107.40. So today target levels also the same: up – 108.27 and 108.50, down – 107.35.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is testing the 0.6555 level from below again. In case of breaking it up, the target level will be 0.6590. If the Australian dollar is not strong enough, then 0.6523 and 0.6490 will become its targets.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues to try to move up, but there is still not enough potential. Today the market opened with a gap down, but growth is possible to 66.90. Although a more likely scenario is a movement down to 66.01 and further to 65.51. Everything will depend on the price of oil.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD yesterday was unable to reach the target at 1.3300, stopping the downward movement at 1.3317. Today trading is possible between 1.3364 and 1.3383 at the top and 1.3333 and 1.3317 at the bottom.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating between 1599.00 and 1587.70. There is no pronounced trend yet, but after the recent sharp decline, a downward movement to the levels of 1575.80 and 1563.40 is not excluded. In case of moving up, the target level may be at 1611.40.


Brent won back its positions a little, opening today at 54.00. However, later the instrument returned to yesterday’s prices at 52.70. This level can start the continuation of correction to the levels 54.63 and 55.23. In case of no correction, today’s goals are below: 51.25 and 50.25.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD was corrected to the level of 8963.00, but could not break it and again turned down to the level of 8699.00. Also a possible short-term target below may be at 8550.00.


Forecasts should not be considered as guidance for trading.