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Wave Analysis 22.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

22.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still forming the wave 2 in the form of the double zigzag. In the nearest future, the market may continue growing in the wave (c) of [y].

More detailed structure is shown on the H1 chart. The pair completed the third wave in the wave (c). Consequently, in the nearest future the local correction may take place, which may later be followed by a new bullish impulse in the wave v of (c).

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still moving upwards and forming the horizontal triangle. During the next several days, the market may complete the wave e of (iv). To confirm a new decline, the price has to form the descending impulse I the wave i.

At the H1 chart, the pair is forming the bullish impulse in the wave [C]. In the nearest future, after finishing the correction, the market may resume moving upwards in the wave (3) of [C].

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair broke its monthly lows. Probably, the price is about to complete the wave (a) of [y]. As a result, the market may start a new correction soon, which may later be followed by a further decline if the pair.

As we can see at the H1 chart, the pair is finishing the bearish impulse in the wave (a). In the nearest future, the market may complete the wave v and start forming the correctional wave (b) of [y].

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair rebounded from the upside border of the horizontal triangle in the wave [e]. Consequently, during the next several days the market may fall in the wave (i).

As we can see at the H1 chart, yesterday the pair completed the ascending impulse in the wave (c) of [e] and then the bearish one in the wave i of (i). As a result, in the nearest future the local correction may take place, which may later be followed by a new descending movement in the wave iii of (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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