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Wave Analysis 07.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

07.03.2017

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair formed the wedge in the wave [i] and, as a result, may form the wave [ii] in the form of the zigzag. On a shorter timeframe, after finishing the wave (b), the price may start growing the wave (c).

At the H1 chart, the pair formed the impulse in the wave (a) and started another correction. Probably, the wave (b) taking the form of the zigzag. After finishing the wave c of (b), the market may start growing in the wave (c) of [ii].

 

GBP USD, “Great Britain Pound vs US Dollar”

It looks like the GBP/USD pair completed the triangle in the wave (iv) of [iii]. In this case, the price may resume falling in the wave (v) and break the local lows. However, after finishing the wave (v), the market may start forming a long consolidation range in the wave [iv].

As we can see at the H1 chart, the pair broke the local low while forming the wave [5] of i. In the nearest future, the market may complete the current descending impulse and start the ascending correction.

 

USD JPY, “US Dollar vs Japanese Yen”

Probably, after finishing the impulse in the wave 1, the USD/JPY pair formed the zigzag in the wave 2. Taking into account that the bullish impulse in the wave [i] was completed as well, during the next several days the market may grow the wave [iii] of 3.

More detailed structure is shown on the H1 chart. Possibly, the pair finished the impulse i in the flat (ii). In the nearest future, the market may start a new growth in the wave iii of (iii).

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair completed the zigzag [e] of 4 with the diagonal triangle (c) inside it. Consequently, to confirm a new decline, later the price has to form the descending impulse in the wave (i).

As we can see at the H1 chart, the pair completed the correction and started forming the wave v of (i). on Tuesday, the market may continue moving downwards and break the low of the wave iii.

 

RoboForex Analytical Department

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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