Wave Analysis 09.02.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

09.02.2016

Forecast for February 9th, 2016

EUR USD, “Euro vs US Dollar”

It’s highly likely that after completing the triangle in the wave [b], Eurodollar has formed the bullish impulse in the wave [c]. It looks like on the minor wave level the price is about to finish the flat in the wave (ii). Consequently, in the future the market is expected to resume its decline.



As we can see at the H1 chart, at the end of last week the pair finished the wave [c] with the truncated fifth wave inside it. In the nearest future, after completing the wave c of (ii), the price may start falling in the wave (iii).




GBP USD, “Great Britain Pound vs US Dollar”

It looks like the wave [iv] has taken the form of the zigzag. In the nearest future, Pound may continue falling in the wave [v] of 3. Possibly, the market may break January’s low quite soon.



At the H1 chart, the pair has finished the bullish impulse (c) with the extended fifth wave inside it. In the nearest future, after completing the local correction, the price may resume moving downwards in the wave (iii).




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen has completed the zigzag in the wave Y of (4). After completing the zigzag in the wave [b] of Y, the market has started falling in the wave [c]. It’s highly likely that in the future the pair may start a bullish pullback.



Yesterday, Yen finished the fifth wave in the descending impulse [c]. Earlier, the pair had formed the extension in the third wave of this impulse. If later the market starts forming another ascending impulse, the price may resume its growth.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has successfully completed the double zigzag in the wave [ii]. Earlier, the pair finished the descending zigzag in the wave [i]. Later, the market may continue falling in the wave [iii] inside the diagonal triangle.



It looks like the wave [ii] has taken the form of the double zigzag. After completing the zigzag in the wave (y), Australian Dollar has started forming the descending impulse in wave (a). On the minor wave level, the market is expected to finish the local correction and continue falling in the wave v.



 
RoboForex Analytical Department

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.

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