Forecast for May 19th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues forming the extended
impulse in the wave (iii)
. Earlier, the price completed the zigzag
in the wave Y
, the descending impulse in the wave (i)
, and the correction in the second wave. It’s highly likely that in the nearest future, the market may continue moving downwards.
As we can see at the H1 chart, after finishing the wave ii
, Eurodollar started falling in the third wave. Earlier, the price formed the zigzag
in the wave (ii)
on the higher level. On Thursday, the market may continue falling.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is about to complete the wave (ii)
, which is correcting the impulse in the wave (i)
. Consequently, in the nearest future the market may resume falling in the wave (iii)
More detailed structure is shown on the H1 chart. The wave (i) took the form of the wedge
, and then the price started a new correction. It’s highly likely that yesterday the market completed the wave c of (ii)
, and, as a result, may start falling in the wave i
USD JPY, “US Dollar vs Japanese Yen”
Yen is completing the fifth wave in the ascending impulse (i)
. Earlier, the pair formed diagonal triangle
in the wave [v]
. So, quite soon the market may start the short-term correction in the wave (ii)
It looks like the price may be forming the fourth wave in the diagonal triangle v of (i)
. After finishing the local correction, the pair may grow up a bit in the wave 
. Consequently, if later Yen rebounds from the pattern’s upside border, the market may start a new correction.
AUD USD, “Australian Dollar vs US Dollar”
After finishing the impulse in the wave [c] of 4
, Australian Dollar continues falling. Probably, the price is forming the extension
in the wave (iii)
, which may yet continue for a while. As a result, we may see a new low soon.
More detailed structure of the current decline is shown on the H1 chart. After finishing the extension
in the wave iii
, Australian Dollar formed the correction in the fourth wave. Right now, the price is falling in the wave v of (iii)
, which may continue during the day.
RoboForex Analytical Department
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