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 10.10.2016 (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 10.10.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)


Forecast for October 10th, 2016

EUR USD, “Euro vs US Dollar”

It looks like the EUR/USD pair is still forming the double zigzag in the wave E. After finishing the wave [x], the price rebounded from the triangle’s downside border and may start moving upwards in the wave [y] of E.

More detailed structure is shown on the H1 chart. It looks like after completing the wave (c) of [x], the pair formed the ascending impulse in the wave i. As a result, in the nearest future, the market may resume growing in the wave iii of (a).

GBP USD, “Great Britain Pound vs US Dollar”

Probably, the GBP/USD pair is forming the descending extension in the wave [iii]. Later, after finishing the fourth wave, the market may continue its decline in the wave (v) of [iii].

It’s highly likely that the pair is forming the horizontal triangle in the wave (iv). If the price rebounds from the pattern’s upside border, the market will start a new descending movement.

USD JPY, “US Dollar vs Japanese Yen”

Possibly, the USD/JPY may continue forming the triangle. It looks like last week the price completed the wave (c). Taking into account that the price is trading under the Moving Average again, later the market may form the wave (d).

Probably, the wave (c) took the form of the double zigzag and then the pair formed a new descending impulse, which may start a new decline in the wave a. Consequently, in the nearest future the market may continue moving downwards.

AUD USD, “Australian Dollar vs US Dollar”

In case of the AUD/USD pair, the flat may continue as well. It’s highly likely that the price may make the final ascending movement in the wave [e] of 4 during this week. If later the market rebounds from the triangle’s upside border, it will resume moving downwards.

At the H1 chart, the pair completed the zigzag (b) with the diagonal triangle c inside it. Consequently, in the nearest future, the market may start forming the ascending impulse in the wave (c) of [e].

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.


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.