Wave Analysis 10.03.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is about to complete the wave [ii], which is taking the form of the zigzag. Later, after finishing the wave (c), the market may resume falling in the wave [iii] of 3.
More detailed structure is shown on the H1 chart. It looks like the pair is completing the third wave in the wave (c). As a result, after finishing the local correction, the market may resume moving upwards in the wave v of (c).
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the triangle in the wave (iv), the GBP/USD pair is about to complete the descending impulse in the wave i of (v). Consequently, in the nearest future the market may be corrected, but later it is expected to start another decline in the wave iii.
At the H1 chart, the pair is probably finishing the wave [5] of i and may soon start a bullish correction in the wave ii of (v). To confirm the correction, the market has to form the ascending impulse in the wave ii.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still moving upwards. Earlier, after finishing the flat in the wave (ii), the price started a new growth in the wave (iii) of [iii]. On Friday, the market may continue growing.
As we can see at the H1 chart, the pair is extending the wave (iii). As a result, during the day the market may continue growing and reach new highs.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair rebounded from the upside border of the horizontal triangle and right now is about to complete the descending impulse in the wave (i). Consequently, in the future the market may start the ascending correction in the wave (ii).
More detailed structure is shown on the H1 chart. The pair is completing the bearish impulse in the wave v of (i). Earlier, the price formed the diagonal triangle in the wave (c) of [e]. As a result, in the future the market may start a short-term bullish correction. To confirm this scenario, the pair has to form the ascending impulse in the wave a.
RoboForex Analytical Department
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.