Forecast for August 15th, 2016
EUR USD, “Euro vs US Dollar”
Probably, the EUR/USD pair is still forming the diagonal triangle
in the wave [v]
. On a shorter timeframe, last Friday the price probably completed the wave (ii)
. As a result, quite soon the market may fall inside the wave (iii) of [v]
More detailed structure is shown on the H1 chart. It looks like the wave (ii)
took the form of the zigzag
and then the price formed the descending impulse. Consequently, on Monday the market may continue falling in the wave a of (iii)
GBP USD, “Great Britain Pound vs US Dollar”
In case of the GBP/USD pair, the main scenario remains bearish. It’s highly likely that after finishing the wave the wave [ii]
in the form of the double three
, the price is falling in the wave iii of [iii]
. This week, the market is expected to continue moving downwards.
As we can see at the H1 chart, the pair is forming the third wave in the extended
. After finishing the local correction, the market may continue falling and reach several new lows.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still forming the bearish impulse in the wave [v] of C.
On a shorter timeframe, the price may continue falling while forming the wave v
in the extended wave (iii)
More detailed structure is shown on the H1 chart. After finishing the zigzag
in the wave iv
, the pair completed the descending impulse 
and the correction 
. In the nearest future, the market may form the extension
in the wave 
AUD USD, “Australian Dollar vs US Dollar”
Probably, the AUD/USD pair has finished the diagonal triangle
in the wave [c] of 4
. As a result, in the nearest future the market may form the descending impulse in the wave (i)
. After finishing this impulse, the price will resume moving downwards.
As we can see at the H1 chart, the pair has finished the wave (v) of [c]
in the form of the zigzag
. Right now, the price is probably forming the descending wedge
in the wave i
. After completing this impulse, the market will resume its decline.
RoboForex Analytical Department
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