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Wave Analysis 03.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

03.03.2017

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair continues forming the extension in the wave [iii]. Consequently, in the nearest future the market may resume moving downwards and break local lows.

It looks like the pair formed the wedge in the wave i. As a result, after finishing the local correction in the wave ii, the market may resume falling the wave iii of (iii).

 

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 Friday, the price may continue falling in the wave y, which may later be followed by a new ascending movement.

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 zigzag in 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 the impulse in the wave (i). As a result, during the next several hours 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 started the current decline in the wave (a). During the next several days, the market may continue falling and forming the descending impulse.

At the H1 chart, the pair is falling in the wave iii. Earlier, the pair completed the flat in the wave ii. It’s highly likely that on Friday the price may continue moving downwards and, as a result, reach several new lows.

 

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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