Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 24.10.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back




Wave Analysis 24.10.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

24.10.2016

Forecast for October 24th, 2016

EUR USD, “Euro vs US Dollar”

It looks like the EUR/USD pair is forming the bearish impulse in the wave [iii]. Earlier, the price finished the triangle in the wave E of (B), the descending wave [i], and the correction in the wave [ii]. Consequently, in the nearest future the market may continue its decline.



As we can see at the H1 chart, at the end of the last week the pair finished the descending impulse in the wave (i). As a result, after finishing the local correction, the market may continue moving downwards in the wave (iii) of [iii].




GBP USD, “Great Britain Pound vs US Dollar”

Probably, the GBP/USD pair completed the wave (iv) of the extension in the wave [iii]. Consequently, in the nearest future the market may continue falling in the wave (v) of [iii].



As we can see at the H1 chart, the pair completed the wave i in the form of the wedge. During the day, the pair may form a short-term correction and break its local high. Later, the market is expected to start forming the wave iii of (v).




USD JPY, “US Dollar vs Japanese Yen”

It’s highly likely that the USD/JPY may yet continue consolidating. Possibly, the price is forming the triangle in the wave [iv]. If this assumption is correct, in the nearest future the market may fall in the wave (d).



More detailed structure is shown on the H1 chart. Probably, the pair is forming the descending wedge in the wave a. As a result, on Monday the market may fall in the wave [5] of a.




AUD USD, “Australian Dollar vs US Dollar”

Last week, the AUD/USD pair rebounded from the upside border of the horizontal triangle and started forming the descending impulse in the wave [i]. To confirm a new decline, the market has to complete this wave.



As we can see at the H1 chart, the pair completed two descending impulses, which means that it may form the extension in the wave (iii. Consequently, in the nearest future the market may start falling in the wave iii of (iii) and break its local low.



 
RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.

Attention!

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.