Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 10.05.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back




Wave Analysis 10.05.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

10.05.2016

Forecast for May 10th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar may yet continue forming the descending extension in the wave (iii). It looks like earlier the price completed the wave Y in the form of the zigzag. Later, the market may continue moving downwards.



More detailed structure is shown on the H1 chart. Probably, the price has formed the descending impulse in the first wave of the wave (iii). Consequently, quite soon the pair may start moving downwards in the wave iii of (iii).




GBP USD, “Great Britain Pound vs US Dollar”

In case of Pound, the situation is similar. It looks like the price has already started forming the descending wave (iii). After finishing the local correction, the market may start another decline and break the minimum.



As we can see at the H1 chart, the price has formed the descending wedge in the wave i and the flat in the wave ii. It’s highly likely that during the day Pound may start falling in the wave iii.




USD JPY, “US Dollar vs Japanese Yen”

Yen is still forming the diagonal triangle. It looks like the price is about to finish the wave (iv) and, as a result, may soon start falling in the wave (v) of [v].



More detailed structure is shown on the H1 chart. Probably, the wave (iv) is taking the form of the zigzag. Right now, the pair is forming the ascending impulse c of the above-mentioned pattern, which may be finished during the day.




AUD USD, “Australian Dollar vs US Dollar”

After finishing the impulse in the wave [c] of 4, Australian Dollar continues falling. Probably, the price is forming the extension in the wave (iii), which may yet continue for a while. As a result, we may see several new lows.



At the H1 chart, we can see that the price is about to complete the wave [4] in the extension of the wave iii. On Tuesday, the market may yet continue falling in the wave [5] of iii, but soon it is expected to start a local correction.



 
RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.

Attention!

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.