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Wave Analysis 15.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

15.03.2017

EUR USD, “Euro vs US Dollar”

After finishing the descending wedge in the wave [i], the EUR/USD pair completed the wave [ii] in the form of the zigzag. Consequently, after finishing the local correction, the market may resume moving downwards.

More detailed structure is shown on the H1 chart. Yesterday, the pair completed the bearish impulse in the wave (i) and then started a new correction. Possibly, the wave (ii) is taking the form of the zigzag, which later may be followed by a new decline.

 

GBP USD, “Great Britain Pound vs US Dollar”

In case of the GBP/USD pair, after finishing the triangle in the wave (iv), the price started forming the descending impulse in the wave (v). In the nearest future, the market may start falling in the wave iii of (v).

As we can see at the H1 chart, after finishing the descending impulse in the wave i, the pair probably completed the wave ii in the form of the double three. To confirm a new decline, the price has to form the descending impulse in the wave [1] of iii.

 

USD JPY, “US Dollar vs Japanese Yen”

Probably, the USD/JPY pair is extending the wave (iii) of [iii]. Earlier, the price completed the zigzag in the wave [ii]. In the nearest future, the market may continue growing.

As we can see at the H1 chart, the wave ii is taking the form of the zigzag. As a result, after finishing the wave [Y] of ii, the market may start moving upwards in the wave iii of (iii).

 

AUD USD, “Australian Dollar vs US Dollar”

It’s highly likely that the AUD/USD pair is about to complete the correctional wave (ii). Consequently, in the nearest future the market may start another decline and form the bearish impulse in the wave (iii).

More detailed structure is shown on the H1 chart. It looks like the pair is forming the wave (ii) in the form of the zigzag. Later, after finishing the wave c of (ii), the market may resume falling and, as a result, break the low of the wave (i).

 

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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