Wave Analysis 27.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
EUR USD, “Euro vs US Dollar”
It looks like the EUR/USD pair is about to complete the wave 2 in the form of the double zigzag. On a shorter timeframe, the price is finishing the impulse in the wave (c) of [y]. As a result, after completing the wave v of (c), the market is expected to resume moving downwards.
As we can see at the H1 chart, the pair is being corrected while forming the ascending impulse v of (c). Consequently, after finishing the wave [4], the market may form another bullish impulse, this time in the wave [5].
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is about to complete the horizontal triangle in the wave (iv). In the nearest future, the market may finish the wave e. If the price rebounds from the pattern’s upside border, it may start falling in the wave i.
More detailed structure is shown on the H1 chart. It looks like the pair is forming the ascending impulse [C] of the zigzage of (iv). On Monday, the price may be corrected, but later the market is expected to start moving upwards while forming the wave (5) of [C].
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that the USD/JPY pair is about to complete the descending impulse (a), which is a part of the double zigzag2. As a result, in the nearest future the market may be corrected in the wave (b) of [y].
More detailed structure is shown on the H1 chart. Probably, the pair is finishing the extension in the wave iii. Consequently, after completing the wave [5], the market may start a new local correction.
AUD USD, “Australian Dollar vs US Dollar”
After rebounding from the upside border of the horizontal triangle, the AUD/USD pair formed the wave (i). As a result, after finishing the local correction, the market may resume falling.
As we can see at the H1 chart, the pair formed the wedge in the wave (i). Possibly, the wave (ii) may take the form of the double zigzag. To confirm a new decline, the market has to form the descending impulse in the wave (iii).
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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.