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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave analysis of the EUR / USD, GBP / USD, USD / JPY and AUD / USD on March 1, 2016
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Wave analysis of the EUR / USD, GBP / USD, USD / JPY and AUD / USD on March 1, 2016

01.03.2016
EUR/USD Pair

Review of wave analysis of EUR / USD on March 1, 2016

The formation of sliding impulse in the wave is continuing. Apparently, on the younger level, the wave is finished (v). So, soon after the minimum updated the upward correction is possible to start.



Review of wave analysis of EUR / USD on March 1, 2016

As it shown at the markup of hourly chart, the price is reduced within impulse wave (v), a part of which ends with the fourth wave. During the Tuesday the downward movement in the wave v of (v) and the breakage of yesterday's minimum are possible.



GBP/USD Pair

Review of wave analysis of GBP/USD on March 1, 2016

Bears are not so easy to give up and, probably, the formation of wave (iii) still continues. In the short term, the further price drops within the wave v is possible, but with the slower speed than it was earlier in the wave iii of (iii).



Review of wave analysis of GBP/USD on March 1, 2016

On the hourly chart the wave v, presumably, becomes a Diagonal Triangle. During the day, after the wave is finished [2], the resumption of quotations in the wave [3] of v and the breakdown of the local minimum are possible.



USD/JPY Pair

Review of wave analysis of USD/JPY on March 1, 2016

Presumably, Diagonal Triangle is forming in the wave following the yen [c], which included possible continued decline in the third wave. Subsequently, the further advance of the currency pair downward to the minimum and breakdown of the wave minimum are possible (i).



Review of wave analysis of USD/JPY on March 1, 2016

After the end of the descending impulse in wave A, zigzag in wave B was formed. At the junior level, the price formed the wave [1] and is already declining in wave [3]. During the day, after the local correction is finished, further downward movement of the pair is possible.



Валютная пара AUD/USD

Review of wave analysis of AUD/USD on March 1, 2016

Formation of wave [ii] is completed, likely in the form of a Double Zigzag. In the short term, price is likely to proceed to move downward within wave [iii] as part of a diagonal triangle within wave 5 wave at the senior level.



Review of wave analysis of AUD/USD on March 1, 2016

Seems, on the hourly chart, wedge is developing in the wave (a) that is still possible for continuation of the fourth wave. Subsequently, the reduction in the wave v of (a) is possible. In the case of pullback from the lower border of the wedge - the beginning of the correction. If this border is breached, the main markup will be the one with more rapid downward momentum in the wave (a).

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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.