Forecast for January 25th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues forming the horizontal triangle
in wave 4
. It looks like at the end of the last week on the minor wave level the price finished the wave [d]
. In the nearest future, the market may continue forming the wave [e] of 4
and test the pattern’s upside border.
More detailed structure is shown on the H1 chart. Probably, the price is about to complete the wave (b)
. On Monday, the pair may form the bullish impulse in the wave (c)
and break the maximum of the wave (a) of [e]
GBP USD, “Great Britain Pound vs US Dollar”
The wave [iii]
continues. Earlier, the pair formed the wedge
in the wave [i]
and the correction in the wave [ii]
. In the nearest future, the market may resume falling and break the minimum.
As we can see at the H1 chart, Pound has finished the wave (iv)
. During the day, the price may complete the local correction and resume moving downwards in the wave (v) of [iii]
. An alternative scenario implies that the market may form the triangle
in the fourth wave.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen has completed the wave C
in the form of the zigzag
. In the nearest future, the market may continue forming the bullish impulse in the wave [i]
After finishing the wave (v)
in the form of the diagonal triangle
, Yen has started moving upwards. It’s highly likely that right now the market is forming the extension
in the wave (iii)
. On the minor wave level, the pair may continue growing in the wave iii
AUD USD, “Australian Dollar vs US Dollar”
It’s highly likely that Australian Dollar has finished the wave [iii]
. Earlier, the pair formed the wedge
in the wave [i]
. During this week, the correction in the wave [iv]
may continue; the form of this correction will be specified later.
More detailed structure is shown on the H1 chart. After finishing the diagonal triangle
in the wave (v)
, the price has started forming the bullish impulse in the wave (a)
. During the day, the pair may complete the latter wave and start a local descending correction.
RoboForex Analytical Department
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