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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 26.05.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
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Wave Analysis 26.05.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

26.05.2016

Forecast for May 26th, 2016

EUR USD, “Euro vs US Dollar”

Just as we expected, Eurodollar has finished the extension in the wave (iii). Right now, the pair is forming the correctional wave (iv), which may be followed by a new decline in the wave (v) of [i].



More detailed structure is shown on the H1 chart. One of the possible scenarios implies that the current correction has completed in the form of the horizontal triangle. In any case, it’s highly likely that In the nearest future the market may move sideways.




GBP USD, “Great Britain Pound vs US Dollar”

Probably, Pound is about to complete the wave (ii). Consequently, in the nearest future the market may continue falling in the third wave (iii). However, this scenario must be confirmed by the formation of the wave i of (iii).



As we can see at the H1 chart, Pound is finishing the wave c in the zigzag (ii). As a result, during the day the pair may start falling in the wave i, which may be followed by a new descending movement.




USD JPY, “US Dollar vs Japanese Yen”

Yen has 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 may move downwards a little bit in the wave c of the zigzag (ii). Consequently, in the nearest future the market may break the minimum of the wave a and then start growing in the wave i.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is about to complete the fourth wave in the descending impulse [i]. It’s highly likely that on Thursday the market may resume falling in the wave (v) of [i].



As we can see at the H1 chart, Australian Dollar is starting to fall inside the third wave of the diagonal triangle (v). As a result, quite soon the market may break the minimum of the wave i.



 
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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.