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Wave Analysis 28.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

28.03.2017

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair completed the wave 2 in the form of the double zigzag. To confirm a new decline, later the price has to form the descending impulse in the wave i.

As we can see at the M30 chart, the pair finished the wedge in the wave [1]. Consequently, on Tuesday the local correction may take place, but later the market is expected to start forming the wave [3] of iii.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is about to complete the horizontal triangle in the wave (iv). If the price rebounds from the pattern’s upside border, it may start a new descending movement.

More detailed structure is shown on the H1 chart. It looks like the pair is forming the ascending impulse [C] of the zigzag e of (iv). On Tuesday, the price may finish the wave (5) and start falling in the wave i.

 

USD JPY, “US Dollar vs Japanese Yen”

It’s highly likely that the USD/JPY pair is about to complete the descending impulse (a), which is a part of the double zigzag 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 is finishing the fourth wave in the wave (a). Consequently, later the market may break the low while forming the wave v of (a).

 

AUD USD, “Australian Dollar vs US Dollar”

After rebounding from the upside border of the horizontal triangle, the AUD/USD pair formed the bearish impulse in the wave (i). As a result, after finishing the local correction, the market may resume falling.

At the H1 chart, the pair probably formed the wedge in the wave (i) and rebounded from the pattern’s downside border, which means that on Tuesday the market may be corrected in the wave (ii).

 

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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