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Wave Analysis 23.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

23.03.2017

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair is about to complete the wave 2 in the form of the double zigzag. Right now, the price is forming the wave [y]. After finishing the bullish impulse in the wave (c), the market may resume moving downwards.

More detailed structure is shown on the H1 chart. Possibly, the pair completed the fourth wave in the wave (c). Consequently, on Thursday the market may grow 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 in the wave i.

At the H1 chart, the pair is probably forming the diagonal triangle in the wave [C] of e, which may yet continue. Later, after rebounding from the pattern’s upside border, bears may try to reverse the pair to the downside.

 

USD JPY, “US Dollar vs Japanese Yen”

It’s highly likely that after finishing the double zigzag in the wave [x], the USD/JPY pair completed the wave (a) in the wave [y] of 2. As a result, in the nearest future the market may be corrected in the wave (b) of [y].

As we can see at the H1 chart, the pair finished the fifth wave in the wave (a). Consequently, later the market may form the correctional wave (b) in the form of the zigzag. To confirm a new decline, the price has to form the bearish impulse in the wave (c) of [y].

 

AUD USD, “Australian Dollar vs US Dollar”

After completing the wave [e] of the horizontal triangle 4, the AUD/USD pair resumed falling.  Consequently, during the next several days the market may form the descending impulse in the wave (i).

As we can see at the H1 chart, after finishing the wave i and the correctional wave ii, the pair started falling in the third wave of the wave (i). On Thursday, the market may continue moving downwards 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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