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 27.10.2016 (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 27.10.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

27.10.2016

Forecast for October 27th, 2016

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair finished the wave (ii) of the extension in the wave [iii]. Consequently, in the nearest future the market may resume its decline and break the low of the wave (i).



As we can see at the H1 chart, the price completed the wave (ii). As a result, in the nearest future the market may continue moving downwards in the wave (iii) and finish the second wave inside it.




GBP USD, “Great Britain Pound vs US Dollar”

It looks like the GBP/USD pair is forming the diagonal triangle in the wave (v) of [iii]. Consequently, in the future, after completing the local correction, the market may resume falling and reach a new low.



More detailed structure is shown on the H1 chart. It’s highly likely that the pair completed the ascending wave [A] in the form of the wedge. As a result, after the slight correction, the market may form the impulse in the wave [C] of ii.




USD JPY, “US Dollar vs Japanese Yen”

One of the possible scenarios suggests that the wave [iv] may take the form of the double three. Consequently, of the price finishes the wave (y) in the nearest future and forms a new descending impulse, the market may resume its decline.



As we can see at the H1 chart, the pair is probably forming the diagonal triangle in the wave c of (y). If later the price rebounds from the pattern’s upside border, bears may form a new descending impulse and start a new decline.




AUD USD, “Australian Dollar vs US Dollar”

In case of the AUD/USD pair, the chart structure is becoming more bearish. Earlier, the price rebounded from the upside border of the horizontal triangle 4 several times. As a result, in the nearest future the market may fall in the wave [i].



As we can see at the H1 chart, the pair finished the flat in the wave (ii) and then completed the descending impulse in the wave i. In the nearest future, the market may be corrected, but later the price is expected to start falling in the wave iii of (iii).



 
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.