Forecast for March 15th, 2016
It looks like Eurodollar has completed the wave [ii] in the form of the flat. On the minor wave level, after finishing the impulse in the wave (c), the pair has started falling in the wave (i). It’s highly likely that on Tuesday the market may continue its decline.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. Earlier, the price formed the bearish impulse in the wave i and then the correction in the wave ii. During the day, the market may fall while forming the wave iii of (i).
GBP USD, “Great Britain Pound vs US Dollar”Probably, Pound has finally completed the correction. It looks like the wave 4 has taken the form of the double zigzag. In the nearest future, the market is expected to start falling in the wave [i], which may be followed by another local correction.
As we can see at the H1 chart, Pound has formed the ascending zigzag in the wave [y] of 4. Possibly, right now the market is falling inside the wave (i). On Tuesday, the price may continue moving downwards.
USD JPY, “US Dollar vs Japanese Yen”It looks like Yen has finished the triangle in the wave [iv]. In the future, the market may start falling in the wave [v] of C and later break the minimum of the wave [iii].
Yen rebounded from the triangle’s upper border, thus completing the wave (e). Later, the market formed the descending impulse in the wave i and, probably, the local correction as well. In the future, the price may start falling in the wave iii.
AUD USD, “Australian Dollar vs US Dollar”It looks like Australian Dollar has finished the ascending wave 4. On the minor wave level, the price has completed the impulse (c) of [y]. One of these days, the pair may resume falling.
More detailed structure is shown on the H1 chart. After completing the wave iv, the pair has formed the bullish impulse in the wave v of (c). During the day, the price may complete the wave i and start another local correction.
RoboForex Analytical Department
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