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Forex analysis & forecasts

Wave Analysis 20.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

20.03.2017

EUR USD, “Euro vs US Dollar”

It looks like the EUR/USD pair completed the flat [ii] with the diagonal triangle (c) inside it. In the nearest future, the market may form the descending impulse in the wave (i).

More detailed structure is shown on the H1 chart. After rebounding from the upside border of the diagonal triangle, the pair formed the impulse in the wave i. Later, the price may continue falling in the wave iii of (i).

 

GBP USD, “Great Britain Pound vs US Dollar”

Probably, the GBP/USD pair is forming the descending Impulse in the wave (v) of [iii]. Consequently, during the next several days the price may form the bearish wave iii of (v).

As we can see at the H1 chart, the wave ii took the form of the flat with the bullish impulse [C] inside it. To confirm a new decline, later the pair has to form the descending wave [1] of iii.

 

USD JPY, “US Dollar vs Japanese Yen”

In case of the USD/JPY pair, the current correction is taking the form of the double zigzag. Right now, the price is forming the descending zigzag in the wave [y] of 2. As a result, during the next several days the market may continue moving downwards.

At the H1 chart, the pair completed the fifth wave and the entire descending impulse (a). Consequently, in the nearest future the market may start forming the correctional wave (b) of [y].

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair reached a new high; the price probably formed the zigzag [e] of 4 inside the horizontal triangle. As a result, during the next several days the market may form the bearish impulse in the wave (i).

At the H1 chart, the pair completed the wave v of the bullish impulse (c) of [e]. Consequently, in the nearest future the market may form the descending impulse in the wave (i).

 

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.