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Wave Analysis 16.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

16.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still being corrected to the upside. It looks like the price is completing the diagonal triangle (c) in the flat [ii]. After rebounding from the triangle’s upside border, the market may start moving downwards in the wave (i).

More detailed structure is shown on the H1 chart. In the nearest future, the market may complete the wave v of (c). To confirm a new decline, the pair has to form the impulse in the wave (i).

 

GBP USD, “Great Britain Pound vs US Dollar”

In case of the GBP/USD pair, after finishing the triangle in the wave (iv), the price started forming the descending impulse in the wave (v). In the nearest future, after finishing the local correction, the market may start falling in the wave iii of (v).

As we can see at the H1 chart, the wave ii is taking the form of the flat. In the nearest future, the market may complete the impulse in the wave [C] of ii and start falling in the wave [1] of iii.

 

USD JPY, “US Dollar vs Japanese Yen”

Probably, the USD/JPY pair is still being corrected. As we can see at the daily chart, the wave 2 is taking the form of the double zigzag. Later, the price may continue forming the wave [y] and break the low.

At the H4 chart, the pair is probably forming [y] of 2 in the form of the zigzag. On Thursday, the price is expected to complete the wave (a) and start the correctional wave (b), which later may be followed by a new decline in the wave (c) of [y].

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is forming the wave (ii) and getting very close to the critical level, which is the high of the wave (c) of [e]. To confirm a new decline, the market has to form the descending impulse in the wave (iii).

As we can see at the H1 chart, the wave (ii) is taking the form of the zigzag. Consequently, after finishing the wave c of (ii), the market may resume falling and form the bearish impulse in the wave i of (iii).

 

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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