Wave Analysis 30.06.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
30.06.2016
Forecast for June 30th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still being corrected. It looks like the price is about to finish the wave (ii) during the day. Earlier, after completing the diagonal triangle in the wave (c) of [ii], the market formed the descending impulse in the wave (i). Consequently, in the nearest future the pair may start falling in the third wave.
As we can see at the H1 chart, the price is probably forming the diagonal triangle in the wave c of (ii). Earlier, the pair formed the descending zigzag in the wave b. Consequently, if the market rebounds from the pattern’s upside border during the day, it may start falling in the wave i of (iii).
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is being corrected as well. It looks like the price is about to complete the wave [ii] in the form of the flat. It’s highly likely that in the nearest future the market may resume falling in the wave [iii].
As we can see at the H1 chart, the GBP/USD pair is forming the diagonal triangle(c) in the zigzag[ii]. During the day, the price may complete the fifth wave of this pattern. After the market rebounds from the pattern’s upside border and forms the descending impulse, it may resume its descending movement.
USD JPY, “US Dollar vs Japanese Yen”
The main scenario still implies that the wave [v] is taking the form of the diagonal triangle. On the minor wave level, the pair is probably completing the fourth wave. As a result, in the nearest future the pair may resume falling in the wave (v) of [v].
As we can see at the H1 chart, the USD/JPY pair is finishing the impulse c in the zigzag(iv). Consequently, in the nearest future the price may start a new decline in the wave a of (v).
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is also being corrected. Earlier, the price completed the double zigzag in the wave [ii] and the descending impulse in the wave (i). It’s highly likely that in the future the market may resume falling in the wave (iii) of [iii].
More detailed structure is shown on the H1 chart. The AUD/USD pair is probably forming the diagonal triangle in the wave c of (ii). On Thursday, Earlier, the market may complete the wave [5] and rebound from the triangle’s upside border.
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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.