Forecast for March 30th, 2016
Probably, Eurodollar has finished the horizontal triangle in the wave (B) and then the descending impulse in the wave [i]. Right now, the local correction is taking place, which may complete quite soon. Consequently, in the nearest future the market may resume its decline.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. It looks like the wave [ii] is taking the form of the double zigzag. On the minor wave level, Eurodollar is about to finish the wave (y) and may start falling in the wave (i) during the day. The critical level here is the maximum of the wave (v) of [c] of E.
GBP USD, “Great Britain Pound vs US Dollar”In case of Pound, the situation is quite similar. Probably, earlier the price finished the wave 4 in the form of the zigzag and then completed the descending impulse in the wave [i]. Consequently, after finishing the wave [ii], the price may resume falling.
As we can see at the H1 chart, the price is about to finish the wave (y) in the double zigzag [ii]. Earlier, the price formed the descending impulse in the wave [i]. In the nearest future, the market may complete the current correction and form the bearish impulse in the wave (i). In this case, Pound will start a new decline.
USD JPY, “US Dollar vs Japanese Yen”A fast growth of Yen, which is taking place over the last several days, may indicate that the price completed the wave (4). Probably, right now the price is forming another ascending impulse and may continue moving upwards while forming the triangle [iv] during the next several days and breaks its highs.
At the H1 chart, Yen has finished the fifth wave of the bullish wave (i) in the form of the diagonal triangle. Right now, the pair is about to complete the wave a, which may be followed by another local correction, and a short-term decline in the wave c of (ii).
AUD USD, “Australian Dollar vs US Dollar”In case of Australian Dollar, the chart structure has been changed. Probably, the market is about to finish the bullish impulse [с] in the flat 4. On Wednesday, the pair may complete the wave (v) and start forming a new bearish impulse.
As we can see at the H1 chart, after finishing the zigzag in the wave (iv), Australian Dollar formed the ascending wedge in the wave i. Later, after the local correction, the price market formed the wave iii quite fast. During the day, the market may complete the wave iv and then move upwards a little bit in the wave v of (v).
RoboForex Analytical Department
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