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Wave Analysis 31.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

31.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still falling. Earlier, the price completed the wave 2 in the form of the double zigzag and then started forming the descending impulse in the wave [i]. Possibly, later the market may start the correctional wave [ii].

More detailed structure is shown on the M30 chart. It looks like the pair is forming the fourth wave in the wave [i]. Consequently, soon the market may resume falling in the wave (v) of [i].

 

GBP USD, “Great Britain Pound vs US Dollar”

After rebounding from the upside border of the horizontal triangle, the GBP/USD pair formed the descending impulse in the wave i. After finishing the local correction, the price may start a new decline in the wave iii.

As we can see at the H1 chart, the wave ii took the form of the zigzag. As a result, during the next several days the pair may form the descending impulse in the third wave and break the local low.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair continues forming the wave 2, which is taking the form of the double zigzag. Right now, the price is forming the wave [y] of 2. After finishing the wave (b), the market may resume falling in the wave (c) of [y].

More detailed structure is shown on the H1 chart. On Friday, the pair may complete the ascending impulse in the wave c of (b), which may later be followed by a new decline.

 

AUD USD, “Australian Dollar vs US Dollar”

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

At the H1 chart, the pair completed the wedge in the wave (ii) and then started the correctional wave (ii), which is taking the form of the zigzag. In the nearest future, the price may resume falling and form the bearish impulse in the wave iii of (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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