Forecast for September 19th, 2016
EUR USD, “Euro vs US Dollar”
It looks like the EUR/USD pair has completed the wave E of (B)
in the form of the horizontal triangle
. On a shorter timeframe, the price has probably finished the descending impulse in the wave [i]
. Consequently, after finishing the local correction, the market may continue falling in the wave [iii]
More detailed structure is shown on the H1 chart. Last week, the pair formed the zigzag
in the wave [e] of E.
It’s highly likely that on Monday the current ascending correction may continue, but later the market is expected to start a new decline.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, the GBP/USD pair is forming the extension
in the wave (iii)
. Earlier, the price finished the double zigzag
in the wave (ii)
. In the nearest future, after finishing the local correction, the market may continue falling.
More detailed structure is shown on the H1 chart. Probably, the pair is about to finish the fourth wave in the extended wave iii
. As a result, in the future the market may fall in the wave  of iii
USD JPY, “US Dollar vs Japanese Yen”
The main scenario remains the same and implies that the USD/JPY pair is still falling in the diagonal triangl
e. Earlier, the price completed the wave (ii)
and may continue falling in the wave (iii) of [v]
As we can see at the H1 chart, the pair is about to complete the descending wedge
in the wave [A]
. Consequently, if the price rebounds from the pattern’s downside border, the market will start a new local ascending correction.
AUD USD, “Australian Dollar vs US Dollar”
It looks like the AUD/USD pair is forming the extension
in the wave (iii)
. Earlier, the price formed the descending wedge
in the wave (i)
and the correctional wave (ii)
in the form of the flat
. In the nearest future, the market may resume moving upwards.
As we can see at the H1 chart, the pair is finishing the wave [C]
of the zigzag ii
. To confirm a new decline, the price has to form a descending impulse inside it.
RoboForex Analytical Department
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