Wave Analysis 14.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
EUR USD, “Euro vs US Dollar”
Probably, after finishing the descending wedge in the wave [i], the EUR/USD pair completed the wave [ii] in the form of the zigzag. To confirm a new decline, the market has to form the impulse in the wave (i) of [iii].
More detailed structure is shown on the H1 chart. It’s highly likely that the pair is forming the third wave in the wave (i). As a result, in the nearest future the market may continue falling in the wave iii of (i).
GBP USD, “Great Britain Pound vs US Dollar”
It’s highly likely that after finishing the descending impulse in the wave i, the GBP/USD pair formed the wave ii and then started falling in the wave iii of (v). Consequently, on Tuesday the market may continue its decline.
As we can see at the H1 chart, yesterday the pair completed the wave ii and then broke the low of the wave i. To confirm a new decline, later the price has to form the descending impulse in the wave [1].
USD JPY, “US Dollar vs Japanese Yen”
Possibly, the USD/JPY pair is extending the wave (iii) of [iii]. Earlier, the price completed the bullish impulse in the wave (i) and the correctional wave [ii] in the form of the zigzag. Consequently, in the nearest future the market may resume growing and break the local high.
More detailed structure is shown on the H1 chart. Probably, after finishing the bullish impulse in the wave i of (iii), the pair completed the zigzag in the wave ii. It’s highly likely that in the nearest future the market may continue moving upwards.
AUD USD, “Australian Dollar vs US Dollar”
After finishing the wave [e] of 4, the AUD/USD pair completed the descending impulse in the wave (i). Later, after finishing the local correction, the price may resume falling in the wave (iii).
As we can see at the H1 chart, the pair completed the wave v of (i) and started the ascending correction. Possibly, the wave (ii) may take the form of the zigzag. If this assumption is correct, then after finishing the local correction, the pair start a short-term growth in the wave c of (ii).
RoboForex Analytical Department
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.