Forecast for January 12th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues forming the bullish impulse in the wave [c]
of the wave 4
. In the nearest future, the pair may continue growing towards the maximum of the wave [a]
More detailed structure is shown on the H1 chart. It looks like after finishing the wave [b]
, the market has formed the bullish impulse in the wave (i)
. Right now, the correction is taking place, which may be followed by another growth in the wave (iii)
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the downtrend continues. The pair is still forming the impulse in the wave [iii]
. During the next several days, the market may continue falling and reach several new lows.
As we can see at the H1 chart, the price is falling in the wave v
of the wave (iii)
. On Tuesday, this descending movement may continue, but later the market is expected to be corrected in the wave (iv)
USD JPY, “US Dollar vs Japanese Yen”
Yen is still forming the descending zigzag C
inside the larger correction. During the next several days, the price may continue falling in the wave [c] of C
Yen is falling in the wave [c]
. On the minor wave level, the price is being corrected in the wave (iv)
. In the future, the market may continue its decline inside this bearish impulse.
AUD USD, “Australian Dollar vs US Dollar”
Probably, Australian Dollar has completed the wave [iii]
and may start a new correction one of these days. The formation of the wave [iv]
may take the whole week. Later, the market may resume falling in the wave [v] of 5
At the H1 chart, the price may start moving upwards in the wave (a)
. Om Tuesday, the market may form the third wave and break the yesterday’s high.
RoboForex Analytical Department
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