Wave Analysis 26.03.2012 (NZD/USD, EUR/USD)

26.03.2012

Analysis for March 26th, 2012

NZD/USD

At the H4 chart of the pair we can see two initial descending impulses. It looks like the price is finishing the correction inside wave (2). In the future, we can expect the pair to start falling down while forming the third wave.



More detailed wave structure is shown on the H1 chart. Wave 3 of (1), as it may seem at first sight, is not the shortest one inside this impulse, ‘cause the fifth wave is several tens pips shorter. Wave (2) is taking the form of zigzag pattern. In the near term, we can expect the correction to be finished and the price to start moving downwards again.


EUR/USD

After completing an initial wedge pattern in wave [1], the price started the correction. It looks like the second wave is taking the form of a usual zigzag pattern. The correction is almost finished, so during this week we can expect Euro to start falling down while forming wave [3].



Wave (B) has been completed in the form of double three pattern. Currently the price is finishing the formation of an impulse in wave (C) with diagonal triangle pattern being formed inside the fifth wave. We can’t exclude a possibility that the price may make a reverse during the next several days.


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.

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