Forecast for January 14th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming the wave 4
, which is probably taking the form of the zigzag
. In the nearest future, the market, the pair may continue growing in the wave [c]
and break the maximum of the wave [a]
More detailed structure is shown on the H1 chart. It looks like yesterday the pair finished the wave (ii)
. Consequently, in the nearest future the market may move upwards and form the wave (iii) of [c]
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the downtrend continues. The pair is still forming the bearish 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 may have already finished the wave (iii)
. Probably, earlier the pair completed the wave v
. In the nearest future, 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
and reach a new local low.
At the H1 chart, we can see more detailed internal structure of the wave [c]
. It looks like yesterday the pair finished the fourth wave and right now is falling inside the fifth one. In the future, the market may continue its decline inside this bearish impulse.
AUD USD, “Australian Dollar vs US Dollar”
Considering that Australian Dollar broke the minimum and the correction turned out to be quite short, the pair may form the extension
in the wave [iii]
. On the minor wave level, the market may continue falling in the wave (iii)
As we can see at the H1 chart, the price has finished the descending impulse i
in the wave (iii)
. After completing the local correction, the market may start another descending movement in the wave iii of (iii)
RoboForex Analytical Department
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