Wave analysis for EUR/USD, GBP/USD, USD/JPY, and AUD/USD on 16.09.2016

16.09.2016
Currency pair EUR/USD

Wave analysis for EUR/USD on 16.09.2016

It appears that for Euro-US Dollar pair we would see a completed triangle in the wave E of (B) quite soon. On the smaller wave level we might see further development of the wave [e]. If there was a bouncing from the upper boundary of this model, then we would be able to think about possible market descending within the wave [i].

Wave analysis for EUR/USD on 16.09.2016

We can see more details on 1 hour chart. It is quite possible that within the wave [e] we would see the end of the wave (b) in the nearest time. Consequently, in the short term perspective we might expect local price ascending in the wave (c) of [e].

Currency pair GBP/USD

Wave analysis for GBP/USD on 16.09.2016

When descending impulse in the wave (i) has been formed there was a very beginning of a new upwards correction. There is a good chance that for wave (ii) we would see further development on Friday, while on the next week we expect market to decline within the wave (iii).

Wave analysis for GBP/USD on 16.09.2016

More details can be learned from 1 hour chart. We are not ruling out a chance that in the wave b there triangle is being formed. In case the wave would be ended successfully we might see short term upward movement in the wave c of (ii).

Currency pair USD/JPY

Wave analysis for USD/JPY on 16.09.2016

The drawing with diagonal triangle in the wave [v] of C is still in place. Consequently, we might expect further market descending within the wave (iii) of [v].

Wave analysis for USD/JPY on 16.09.2016

More details are given on the 1 hour chart. When zigzag has been finished in the wave x, we saw downwards impulse within the wave [A] corrected by wave [B]. So in the nearest days we might see further market descending within the wave [C].

Currency pair AUD/USD

Wave analysis for AUD/USD on 16.09.2016

Nothing has been changed for Aussie since there is still a chance for the pair to descend within the wave (iii). Earlier we have seen the wedge in the wave (i), which has been corrected by flat shape figure in the wave (ii). Afterward, it is quite possible that we would see further downward market movement within the third wave.

Wave analysis for AUD/USD on 16.09.2016

On 1 hour chart we saw a downward impulse within the wave i, which has triggered correction. It appears that wave ii is getting the shape of zigzag (after the wave [C] was ended), and we might see a new iteration of market downward movement within the wave iii of (iii).
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.