Wave Analysis 09.03.2012 (NZD/USD, EUR/USD)

09.03.2012

Analysis for March 9th, 2012

NZD/USD

It looks like wave [1] has been completed reduced. Currently the correction is taking place. The formation of wave [2] may take several days. After that we can expect the price to start falling down while forming the third wave.



Wave (5) of [1] was a bit short and didn’t reach the minimum of the third one. Right now the correction is taking place. We may assume that wave [2] is taking the form of zigzag pattern. Most likely, the price will continue forming the second wave during the next several days.


EUR/USD

It looks like the price is forming wave [2] at the moment. The correction may take several days. The forecast of the price movement is still bearish. In the future we can expect the price to start moving downwards while forming the third wave.



More detailed wave structure is shown on the H1 chart. Wave 3 of (1) has been completed extended. At the moment the price is forming wave B inside wave (2). In the near term, we can expect a local growth of the price in wave C of (2).


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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question