Wave Analysis 30.03.2012 (NZD/USD, EUR/USD)

30.03.2012

Analysis for March 30th, 2012

NZD/USD

It looks like the price, after completing flat pattern in wave [2], started falling down inside the third one. Currently the local correction is taking place. Most likely, in the nearest future the price will start moving downwards again.



After completing a descending impulse in wave 1, the price started forming flat pattern inside the second one. We may assume that the correction will be finished soon. During the next several days we can expect the price to start moving downwards while forming wave 3.


EUR/USD

We may assume that zigzag pattern in wave [2] has been finished, and right now the market is in the very beginning of wave [3]. We can’t exclude a possibility that Euro may continue falling down much lower during the next several days.



The current wave chart indicates that after finishing diagonal triangle pattern in wave (C) of [2], the pair formed an initial bearish impulse. At the moment the price is forming flat pattern in wave 2. In the near term, we can expect the start of the third wave.


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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