Forecast for June 23rd, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues forming the flat
, which may finally transform into the horizontal triangle
. If the price rebounds from the downside border of this possible pattern, the pair may start a new growth in the wave (c) of [ii]
More detailed structure is shown on the H1 chart. It looks like in the nearest future the market may form the wave e of (b)
inside the triangle
. In order to start the wave (c)
, the market has to form the first wave inside it.
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the chart structure remains rather controversial. Possibly, during the day Pound may form the flat
in the wave (b)
. Later, the market may continue growing in the wave in the wave (c) of [y]
. The form and length of this wave depends on the results of the British referendum.
As we can see at the H1 chart, after finishing the impulse in the wave (a)
, Pound has started a new correction. Possibly, on Thursday the market may continue falling in the wave (b)
and reach a new local low.
USD JPY, “US Dollar vs Japanese Yen”
It looks like after finishing the extension
in the wave (iii)
, Yen has started forming the wave (iv)
and may reach a new local high. Later, the market may start falling in the wave (v) of [v]
As we can see at the H1 chart, after completing the bullish impulse in the wave a
, Yen has formed the correction in the wave b
. Consequently, in the nearest future the market may start growing in the wave c of (b)
and break the high of the wave a
AUD USD, “Australian Dollar vs US Dollar”
Probably, Australian Dollar is forming the wave (y)
in the correctional double zigzag [ii]
. Earlier, the price completed the descending impulse in the wave [i]
. As a result, after finishing the second wave, the market may start forming the wave (i) of [iii]
As we can see at the H1 chart, after finishing the zigzag
in the wave (x)
, the price has formed the bullish impulse in the wave a
and the correction inside the wave b
. It looks like right now the pair is forming the wave c of (y)
, which may continue during the day.
RoboForex Analytical Department
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