Forecast for March 25th, 2016
It looks like after completing the horizontal triangle in the wave (B), Eurodollar has formed the bearish impulse in the wave [i]. In the nearest future, we can expect another local correction, which may be followed by a further decline of the price.
EUR USD, “Euro vs US Dollar”
More detailed structure of the descending wave [i] is shown on the H1 chart. The wave (iii) of the above-mentioned wave turned out to be extended. Probably, on Friday the market may form the impulse (c) in the wave [ii], which is taking the form of the zigzag.
GBP USD, “Great Britain Pound vs US Dollar”Probably, the pair has completed the wave [i] and right now, another correction is taking place. Earlier, Pound finished the wave 4 in the form of the zigzag, In the future, after completing the wave [ii], the price may resume moving downwards and break the minimum of the wave [i].
More detailed structure is shown on the H1 chart. Yesterday, the pair completed the wave (v) of [i], which resulted in the current correction. Possibly, right now the price is about to complete the wave (b) of the wave [ii], which may finally take the form of the flat.
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]. After completing the local correction, the price may resume moving downwards.
At the H1 chart, nothing has changed. Earlier, the wave (e) took the form of the horizontal triangle and was followed by the wave (i). After finishing the correction, the pair may resume its decline in the wave (iii) of [v].
AUD USD, “Australian Dollar vs US Dollar”Probably, Australian Dollar finished the zigzag in the wave 4. After completing the ascending impulse in the wave [c], the pair has started falling in the wave [i]. During the next several days, the price may fall and break its local low.
After completing the impulse in the wave (iii), Australian Dollar has started another correction, which may take the form of the zigzag. Later, after finishing the fourth wave, the market may resume falling in the wave (v) of [i].
RoboForex Analytical Department
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