Forecast for March 31st, 2016
In case of Eurodollar, the chart structure has been changed. It looks like the price has formed the horizontal triangle in the wave (B) with the zigzag E inside it. If the market forms the bearish impulse in the wave [i] in the nearest future, the pair may resume its decline.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. The wave [c] of E has taken the form of the double zigzag. Probably, at the moment Eurodollar is forming the descending wave (i), which may continue during the day.
GBP USD, “Great Britain Pound vs US Dollar”Probably, yesterday Pound completed the wave [ii], which means that it may resume its descending movement. Earlier, the price finished the wave 4 in the form of the zigzag with the flat [b] inside it. It’s highly likely that on Thursday the price may continue falling.
As we can see at the H1 chart, after finishing the descending impulse in the wave [i], Pound has formed the double zigzag [ii]. Probably, at the moment the price is forming the bearish impulse in the wave (i) and may fall deeper during the day.
USD JPY, “US Dollar vs Japanese Yen”Possibly, the wave (4) has been completed in the form of the zigzag. 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 continues forming the zigzag in the wave (ii). Earlier, the pair finished the bullish impulse in the wave (i). It’s highly likely that on Thursday the price may fall in the wave c of (ii), which may be followed by the ascending impulse in the wave i.
AUD USD, “Australian Dollar vs US Dollar”It looks like yesterday the market finished the bullish impulse [с] in the flat 4. On the minor wave level, Australian Dollar has completed the wave (v). During the day, the market may 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 bullish impulse in the wave (v) of [c]. It’s highly likely that in the nearest future the market will form the descending impulse in the wave i and the price will resume its decline.
RoboForex Analytical Department
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