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Wave Analysis 02.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

02.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still forming the extension in the wave [iii]. Earlier, the price completed the wave 2 the form of the zigzag. In the nearest future, the market may continue moving downwards and break previous lows.

More detailed structure is shown on the H1 chart. It’s highly likely that the pair is extending the wave iii. On a shorter timeframe, after finishing the local correction, the market may continue falling the wave [3].

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair continues forming the wave (b) or (x), which is probably taking the form of the double three. On Thursday, the price may continue falling in the wave y.

More detailed structure is shown on the H1 chart. Probably, the wave y is taking the form of the zigzag. During the day, the price may complete the descending impulse in the wave [C] of y.

 

USD JPY, “US Dollar vs Japanese Yen”

After finishing the wave 2, the USD/JPY pair formed the ascending impulse in the wave [i]. Consequently, during the next several days the market may continue growing in the wave [iii].

As we can see at the H1 chart, the pair probably completed the wedge in the wave (i). As a result, in the nearest future the market may start a descending correction, which may later be followed by a new growth in the wave (iii) of [iii].

 

AUD USD, “Australian Dollar vs US Dollar”

After finishing the diagonal triangle in the wave (c) of [ii], the AUD/USD pair is trying to resume falling. Consequently, in the nearest future the market may form the descending impulse in the wave (a) of [iii].

At the H1 chart, the pair probably started falling in the wave iii. Earlier, the pair completed the flat in the wave ii. Consequently, on Thursday the price may continue moving downwards.

 

RoboForex Analytical Department

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.



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