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 26.08.2016 (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 26.08.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

26.08.2016

Forecast for August 26th, 2016

EUR USD, “Euro vs US Dollar”

The main scenario remains bearish. It looks like after finishing the triangle in the wave [b], the EUR/USD pair completed the ascending impulse in the wave [c] of E. As a result, in the nearest future the market may start a new decline.



As we can see at the H1 chart, the pair formed bearish impulse in the wave (i) and then the correctional wave (ii) in the form of the zigzag. Consequently, quite soon the market may start falling in the third wave.




GBP USD, “Great Britain Pound vs US Dollar”

Probably, the price has finished the double zigzag in the wave (ii).Earlier, after finishing the correction, the GBP/USD pair formed the bearish impulse in the wave (i). To confirm a new decline, the market has to form a new descending impulse in the wave i.



More detailed structure is shown on the H1 chart. It looks like after finishing the wave y of (ii), the pair formed the bearish wedge in the wave [1]. It’s highly likely that during the day the market may start falling in the third wave.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair continues forming the diagonal triangle in the wave v of (iii). In the nearest future, the market is expected to start a new descending movement, which may be followed by another correction, i.e. the wave (iv).



At the H1 chart, the pair probably completed the horizontal triangle in the wave [4]. Consequently, later the price may resume falling in the wave [5] of v and break the low of the wave [3] quite soon.




AUD USD, “Australian Dollar vs US Dollar”

The descending wedge in the wave (i) indicates that the AUD/USD pair may start a new decline. Consequently, after finishing the local correction, the market may form another descending impulse.



As we can see at the H1 chart, the pair is probably finishing the diagonal triangle in the wave c of (ii). After completing this pattern successfully, the price will start a new descending movement.



 
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.