Wave Analysis 28.03.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
28.03.2016
Forecast for March 28th, 2016
EUR USD, “Euro vs US Dollar”
Probably, last week Eurodollar completed the horizontal triangle in the wave (B) and then the descending impulse in the wave [i]. In the nearest future, after completing the local correction, the price may continue falling.
More detailed structure is shown on the H1 chart. After finishing the bearish impulse in the wave [i], Eurodollar has started a new correction. It looks like on Monday the market may form the impulse (c) in the wave [ii], which is taking the form of the zigzag.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, Pound was moving in different directions and it resulted in the wave 4 in the form of the zigzag and the bearish impulse in the wave [i]. On Monday, the price may complete the local correction and then form another descending wave.
Last week, the pair completed the wave [i] and started a new correction. Probably, the price has finished the triangle(b) of the zigzag[ii]. On Monday, the price may grow a little bit in the wave (c) of [ii].
USD JPY, “US Dollar vs Japanese Yen”
Yen continues moving upwards, which means that the price has completed the wave (4) and is back to growing. Probably, right now the pair is forming a new ascending impulse. it’s highly likely that during the next several days the market may continue moving upwards.
As we can see at the H1 chart, the wave [v] of the wave C is truncated. It looks like right now Yen is finishing the fifth wave in the bullish wave (i). During the day, the pair may continue growing.
AUD USD, “Australian Dollar vs US Dollar”
Probably, Australian Dollar finished the zigzag in the wave 4. After completing the ascending impulse in the wave [c], the pair has started falling in the wave [i]. During the next several days, the price may fall and break its local low.
At the H1 chart, Australian Dollar is moving upwards in the wave c inside the zigzag(iv). Consequently, during the day the market may breaks Friday’s low and then fall in the wave (v) of [i].
RoboForex Analytical Department
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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.