Forecast for March 21st, 2016
Probably, at the end of the last week Eurodollar completed the horizontal triangle in the wave (B). Considering that the price has already rebounded from the pattern’s upper border, the market may resume its decline. In the nearest future, the market may form the bearish impulse.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. After finishing the zigzag in the triangle E, the market has formed the descending impulse in the wave i and then, probably, the local correction as well. In this case, the price may continue falling in the wave (i).
GBP USD, “Great Britain Pound vs US Dollar”It looks like last Friday Pound completed the wave 4 in the form of the zigzag. On the minor wave level, the price has formed the ascending impulse in the wave [c]. It’s highly likely that in the nearest future the market may move downwards in the wave [i].
More detailed structure of the impulse [c] is shown on the H1 chart. Earlier, the pair completed the wave [b] in the form of the flat. On Monday, Pound may continue falling and forming the wave (i).
USD JPY, “US Dollar vs Japanese Yen”After finishing the horizontal triangle in the wave [iv], Yen has resumed its descending movement. While forming the wave [v], the market has broken the minimum of the wave [iii]. It looks like during this week the price may continue moving downwards.
As we can see at the H1 chart, Yen is about to complete the horizontal triangle  in the extension of the wave iii. During the day, the market may try to rebound from the pattern’s upper border. If bears succeed, the pair may move downwards in the wave  of iii.
AUD USD, “Australian Dollar vs US Dollar”It’s highly likely that last week Australian Dollar finished the wave 4 in the form of the zigzag. On the minor wave level, the pair completed the ascending impulse in the wave [c]. During the next several days, the price may fall and form the descending impulse.
More detailed structure of the impulse [c] is shown on the H1 chart. The fifth wave of this impulse was very fast. It looks like right now the price is forming the descending impulse in the wave (i). On Monday, the market may continue falling.
RoboForex Analytical Department
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