Forecast for May 25th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is about to finish the bearish extension
in the wave (iii)
. Earlier, the pair formed the descending impulse in the wave (i)
and the correction in the second wave. As a result, in the nearest future the market may start a new local correction in the wave (iv)
More detailed structure is shown on the H1 chart. It looks like Eurodollar is completing the fifth wave in the wave (iii)
. On Wednesday, the market may break the local low, but later it is expected to start a new correction.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues forming the correctional wave (ii)
, which may be completed quite soon. Later, the market is expected to form the first wave in the wave (iii)
, thus starting a new decline.
More detailed structure is shown on the H1 chart. It looks like Pound is finishing the impulse c
in the zigzag (ii)
. It’s highly likely that the pair may complete the wave (ii)
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen completed the wave (i)
and started a new descending correction. Earlier, the pair formed diagonal triangle
in the wave [v]
. In the nearest future, the market may continue falling in the wave (ii)
As we can see at the H1 chart, the pair is finishing the wave b
in the wave (ii)
. Consequently, during the day the market may start falling in the wave c
and break the minimum of the wave a
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is about to complete the fifth wave in the descending impulse [i]
. It’s highly likely that on Wednesday the market may resume falling in the wave (v) of [i]
As we can see at the H1 chart, Australian Dollar is forming the diagonal triangle
in the wave (v)
. On the minor wave level, the price is about to finish the wave ii
and may soon start falling inside the third wave of the pattern. As a result, on Wednesday the market may break the previous low.
RoboForex Analytical Department
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