Wave Analysis 30.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
EUR USD, “Euro vs US Dollar”
It looks like the EUR/USD pair completed the wave 2 in the form of the double zigzag and then started falling in the wave i. Later, the local correction may take place, which may later be followed by a new descending movement in the third wave.
As we can see at the M30 chart, the pair finished is about to finish the third wave in the wave i. Consequently, after finishing the local correction, the market may form another descending impulse in the wave [5] of i.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair completed the horizontal triangle in the wave (iv), rebounded from the pattern’s upside border, and started falling quickly. After finishing the local correction, the price may start a new decline in the wave iii.
At the H1 chart, the wave ii is probably taking the form of the zigzag. On a shorter timeframe, the pair may form the bullish wave [C] of ii and reach a new local high. To confirm a new decline, the market has to form the descending impulse in the wave iii of (v).
USD JPY, “US Dollar vs Japanese Yen”
At the H4 chart, the USD/JPY pair completed the descending impulse (a) and started the ascending correction. On Thursday, the market may continue the wave (b), which may later be followed by another decline in the wave (c) of [y].
More detailed structure is shown on the H1 chart. the pair completed the bullish wedge in the wave a and, as a result, started the current local correction. Consequently, in the nearest future the market may continue the wave (b), which is taking the form of the zigzag.
AUD USD, “Australian Dollar vs US Dollar”
After rebounding from the upside border of the horizontal triangle, the AUD/USD pair formed the descending impulse in the wave (i). As a result, after finishing the wave (ii), the market may continue falling.
At the H1 chart, the pair probably completed the ascending impulse c in the zigzag(ii). To confirm a new decline, later the price has to form the descending impulse in the wave i.
RoboForex Analytical Department
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