Wave Analysis 06.09.2016 (EUR/USD, GBP/USD, USD/JPY and AUD/USD)
06.09.2016
EUR/USD
The marking which implies further descending wave [i] is still in force. In all appearances, a triangular was formed earlier in the wave (В). As such, in the coming days we can see the pair moving even lower.
The 1-H marking has been updated. Admittedly, a horizontal triangular is being formed in the wave (iv). When this pattern is completed, it is possible that the market will descend further within the wave (v) of [i].
GBP/USD
Most probably that the wave [ii] is being completed, and the wave now looks like a double triple. In all appearances, on the lower wave level the wave (y) is being completed, and it is a zigzag. Therefore, in the short-term period the market can resume descending.
Apparently, an ascending impulse in the wave If a bearish impulse wave is formed, this will confirm further decline of the market.
USD/JPY
The marking which implies a further forming of a diagonal triangular in the wave [v] of C is still in force.Admittedly, the wave (ii) has been completed, and this gives the pair a chance to descend within the third wave.
As we can see on the 1-H marking, the zigzag in the wave y of (ii) has been completed, and a descending impulse in the wave (1) has been formed. When the local correction is over, we can see the pair descending lower within the wave (3).
AUD/USD
Admittedly, Aussie forms a wedge in the wave (i).The pattern will be completed in the near term, and this would give space for a local correction.Most probably, the wave (ii) will be a long-lived and a complex one.
Probably, on the 1-H chart the 4th wave has been completed within the forming wedge. As such, in the near-term we can see the pair descending in the wave v of (i), and if this happens, a bearish impulse will be formed as a confirmation.
The marking which implies further descending wave [i] is still in force. In all appearances, a triangular was formed earlier in the wave (В). As such, in the coming days we can see the pair moving even lower.
The 1-H marking has been updated. Admittedly, a horizontal triangular is being formed in the wave (iv). When this pattern is completed, it is possible that the market will descend further within the wave (v) of [i].
GBP/USD
Most probably that the wave [ii] is being completed, and the wave now looks like a double triple. In all appearances, on the lower wave level the wave (y) is being completed, and it is a zigzag. Therefore, in the short-term period the market can resume descending.
Apparently, an ascending impulse in the wave If a bearish impulse wave is formed, this will confirm further decline of the market.
USD/JPY
The marking which implies a further forming of a diagonal triangular in the wave [v] of C is still in force.Admittedly, the wave (ii) has been completed, and this gives the pair a chance to descend within the third wave.
As we can see on the 1-H marking, the zigzag in the wave y of (ii) has been completed, and a descending impulse in the wave (1) has been formed. When the local correction is over, we can see the pair descending lower within the wave (3).
AUD/USD
Admittedly, Aussie forms a wedge in the wave (i).The pattern will be completed in the near term, and this would give space for a local correction.Most probably, the wave (ii) will be a long-lived and a complex one.
Probably, on the 1-H chart the 4th wave has been completed within the forming wedge. As such, in the near-term we can see the pair descending in the wave v of (i), and if this happens, a bearish impulse will be formed as a confirmation.
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.