Forecast for September 2nd, 2016
EUR USD, “Euro vs US Dollar”
The main scenario remains the same and implies that the EUR/USD pair is forming the descending impulse in the wave [i]
. It looks like earlier the price completed the triangle
in the wave (B)
. Consequently, in the nearest future the market may continue falling.
At the H1 chart, probably the pair may be forming the bullish impulse c
in the zigzag (iv)
. Later, after finishing the current correction, the price may resume falling in the wave (v)
GBP USD, “Great Britain Pound vs US Dollar”
It’s highly likely that the GBP/USD pair is about to finish the zigzag
in the wave (ii)
. On a shorter timeframe, the pair may complete the wave c
and form the descending wave i
, thus confirming a new decline.
Just as we expected yesterday, the pair formed the correctional wave 
. As a result, in the nearest future the market may form the local ascending impulse in the wave  of c
and complete the wave (ii)
USD JPY, “US Dollar vs Japanese Yen”
Probably, the USD/JPY pair is still forming the diagonal triangl
e in the wave [v] of C
. Consequently, in the nearest future the market may start a new descending movement in the wave (iii)
Yesterday, the pair completed the wave (5) of [C]
and then the descending impulse in the wave (1)
. Consequently, after finishing the local correction, wave, the market will continue moving downwards.
AUD USD, “Australian Dollar vs US Dollar”
In case of the AUD/USD pair, the main scenario remains bearish. The descending wedge
in the wave (i)
formed earlier indicated that the market may start a new decline. Later, the price may form the extension
in the third wave.
As we can see at the H1 chart, after finishing the wedge
in the wave i
, the pair has started a new correction. It’s highly likely that in the nearest future the market may finish the wave ii
. To confirm a new decline in the wave iii of (iii)
, the price has to a descending impulse inside it.
RoboForex Analytical Department
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