Forecast for March 9th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. It looks like the wave
[ii] is taking the form of the
zigzag. Later, after completing the local correction, the pair may continue moving upwards while forming the wave
(c) of [ii].
More detailed structure is shown on the H1 chart. Probably, the wave
(b) is taking the form of the
flat with the descending impulse
c inside it. It’s highly likely that the pair may break the minimum of the wave
a during the day.
GBP USD, “Great Britain Pound vs US Dollar”
After completing the
extension in the wave
3, Pound has started a new correction. Earlier, the pair finished the ascending impulse in the wave
[a]. Probably, Earlier, the pair is about to complete the local correction, which means that in the nearest future the market may start growing in the wave
[c] of 4.
As we can see at the H1 chart, the wave
[b] is taking the form of the
flat. On the minor wave level, Pound is forming the
diagonal triangle in the wave
(c). In the nearest future, the market may resume its growth in the wave
[c].
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is forming the
horizontal triangle [iv] in the wave
C. Probably, in the nearest future the market may continue forming the current
flat pattern, but later it is expected to resume its descending movement in the wave
[v] of C.
At the H1 chart, Yen is finishing the wave
(d) in the
triangle; right now, the pair is completing the descending impulse
c of this wave. It’s highly likely that the current
flat pattern may continue in the nearest future, resulting in the wave
(e) of [iv].
AUD USD, “Australian Dollar vs US Dollar”
It’s highly likely that Australian Dollar has completed the ascending wave
4. On the minor wave level, the price has completed the impulse
(c) of [y]. Possibly, one of these days the pair may resume falling in the wave
(i).
After completing the wave
(c) of [y], Australian Dollar has finished the descending impulse
i and then the wave
ii as well, which means that the pair may start falling in the wave
iii of (i) very soon.
RoboForex Analytical Department