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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 16.08.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
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Wave Analysis 16.08.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

16.08.2016

Forecast for August 16th, 2016

EUR USD, “Euro vs US Dollar”

In case of the EUR/USD pair, we have to go back to the scenario, which implies that the price is forming the wave (B), probably in the form of the triangle. It looks like the pair has formed the smaller horizontal triangle in the wave [b], which means that the market may continue growing in the wave [c] of E.



More detailed structure is shown on the H1 chart. It’s highly likely that the pair is forming the third wave in the ascending impulse (iii). On Tuesday, the market may start forming the correctional wave iv of (iii).




GBP USD, “Great Britain Pound vs US Dollar”

Probably, after finishing the finishing the wave [ii] in the form of the double three, the price completed the descending impulse in the wave (i). Consequently, in the nearest future the market may form a new local correction, which may be followed by a new decline in the wave (iii).



More detailed structure is shown on the H1 chart. Possibly, yesterday the pair completed the descending impulse in the wave (i) and then the bullish one in the wave a. After finishing this impulse, the market may be corrected.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still falling. It looks like the price is forming the wave v of (iii) in the descending impulse [v] of C. In the future, the market may break the low of the wave [iii].



As we can see at the H1 chart, after finishing the zigzag in the wave iv, the pair started moving downwards again. In the nearest future, the market may continue falling in the wave [3] of v.




AUD USD, “Australian Dollar vs US Dollar”

It looks like the AUD/USD pair may yet continue forming the diagonal triangle in the wave [c] of 4. As a result, in the nearest future the market may break the high of the wave (iii).



As we can see at the H1 chart, the pair is forming the diagonal triangle in the wave c of (v). On Tuesday, the market may grow in the wave [3] for a while, but later it is expected to start a new descending correction.



 
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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.