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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave analysis for EUR/USD, GBP/USD, USD/JPY and AUD/USD on March 7, 2016
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Wave analysis for EUR/USD, GBP/USD, USD/JPY and AUD/USD on March 7, 2016

07.03.2016
Pair EUR/USD

Overview of the wave analysis for EUR/USD on the March 7, 2016

Supposedly, on the past week, the upward Euro-Dollar correction has begun. Probably, the wave [ii] taking the look of zigzag, where the wave (a) has been completed. After the local correction, the continuation of growth in the wave (c) of [ii] is possible.



Overview of the wave analysis for EUR/USD on the March 7, 2016

The more detailed mark is on the 1 hour chart. Apparently, the wave v of (a) has been completed on the past Friday. That means that during the nearest days the correcting market sliding in the wave (b) of [ii] is possible.



Pair GBP/USD

Overview of the wave analysis for GBP/USD on the March 7, 2016

The British Pound is also been corrected. Probably, after the great stretching in the wave 3 the development of the correction has began. Supposedly, the wave 4 taking the look of zigzag, where the upward wave [a] has been already formed. After the short term correction, the upward moving has chance to be continued.



Overview of the wave analysis for GBP/USD on the March 7, 2016

As it shown on the mark of 1 hour chart, the upward impulse in the wave [a] could be considered as completed. On the juniot wave level, the wave (v) has been comleted on the past Friday. During the week the formation of the wave [b] is possible.



Pair USD/JPY

Overview of the wave analysis for USD/JPY on the March 7, 2016

Supposedly, the horizontal triangle is being formed in the wave [iv] in the framework of the impulsive wave C. Probably, he current flat will continue in the nearest days, but further the resuming of sliding in the wave [v] of C is possible.



Overview of the wave analysis for USD/JPY on the March 7, 2016

Apparently, in the triangle, the downward zigzag in the wave (d) is being formed. During the Monday, the market sliding in the wave c of (d) is possible. After that, the beginning of local upward wave (e) of [iv] is possible.



Pair AUD/USD

Overview of the wave analysis for AUD/USD on the March 7, 2016

It is quite likely, that Ausse upward wave 4 is being formed now and taking the look of double zigzag. On the junior wave level, the impulse in the wave (c) of [y] is about to be completed. It is not excluded that market will sliding in the nearest days.



Overview of the wave analysis for AUD/USD on the March 7, 2016

The more detailed marks is on the 1 hour chart. Probably, the elongation in the wave iii is complete in the wav (c) in the short term, after the end of local correction, the beginning of growth in the wave v of (c) is possible.

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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.