Forecast for October 4th, 2016
EUR USD, “Euro vs US Dollar”
Possibly, The EUR/USD pair is about to complete the wave [d]
in the horizontal triangle E
. Consequently, in the nearest future the market may move upwards a little bit in the wave [e] of E
It looks like the pair formed the flat (b)
with the fast impulse c
inside it. On Tuesday, the price may complete the wave (c) of [d]
and start a short-term growth in the wave [e]
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is about to finish the fifth wave of the descending impulse (i)
. To confirm a new ascending correction, the market has to form the bullish impulse in the wave (ii)
More detailed structure is shown on the H1 chart. The pair lacks several descending waves in order to complete the wave  of v.
As a result, in the nearest future the market may start a new correction in the wave (ii)
USD JPY, “US Dollar vs Japanese Yen”
Despite the broken upside border of the triangle [iv]
, the current scenario remains in effect. However, one should wait until the price confirms the scenario by forming a new bearish impulse.
It looks like the pair is completing the wave y
in the double zigzag (e)
. At the same time, the price may resume its decline only after forming the descending impulse in the wave i
AUD USD, “Australian Dollar vs US Dollar”
In case of the AUD/USD pair, the price is forming the zigzag [e]
in the triangle 4
. After rebounding from the latter pattern’s upside border, the market may complete the correction and start falling in the wave 5
As we can see at the H1 chart, yesterday the pair finished the wave b
of the zigzag (b)
. Consequently, in the nearest future the market may fall in the wave c of (b)
and break the local low.
RoboForex Analytical Department
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