Forecast for June 24th, 2016
EUR USD, “Euro vs US Dollar”
The current structure of the daily chart implies that Eurodollar completed the diagonal triangle C
in the flat (B)
. Consequently, in the future the pair may fall in the wave (C)
. It looks like the pair has already started forming the first wave of this wave.
As we can see at the H4 chart, Eurodollar completed the wave [ii]
in the form of the zigzag
with the diagonal triangle (c)
inside it. Later, the market formed the fast impulse in the wave (i)
. After finishing the local correction, the pair start falling in the third wave.
GBP USD, “Great Britain Pound vs US Dollar”
At the daily chart, Pound is forming the fifth wave of the descending impulse (C)
. Earlier, after finishing the extension
in the wave 3
, the price formed the correctional wave 4
. Consequently, in the next several weeks the pair may continue moving downwards.
At the H4 chart, yesterday Pound completed the fourth wave with the zigzag [y]
inside it and then formed the impulse in the wave [i]
. Later, the local correction may take place.
USD JPY, “US Dollar vs Japanese Yen”
At the daily chart, Yen is probably still forming the wave (2) or (B)
. On the minor wave level, the pair is forming the wave [v] of C
. In the nearest future, the market may continue moving downwards.
As we can see at the H4 chart, the wave [v]
may take the form of the diagonal triangle
. As a result, in the nearest future, the local correction may take place, but later Yen is expected to start falling in the wave (v) of [v]
AUD USD, “Australian Dollar vs US Dollar”
Probably, Australian Dollar completed the flat
in the wave 4
and then formed the descending impulse in the wave [i]
, thus confirming a new decline. Consequently, in the nearest future the pair may fall significantly in the wave [iii] of 5
Probably, Australian Dollar completed the zigzag
in the wave [ii]
and then formed the bearish impulse in the wave (i)
. After finishing the correction, the market may start falling in the wave (iii)
and break the low of the wave [i]
RoboForex Analytical Department
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