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Wave Analysis 29.09.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for September 29th, 2016

EUR USD, “Euro vs US Dollar”

Probably, after finishing the descending wedge in the wave [i], the EUR/USD pair formed the correctional wave [ii]. Consequently, in the nearest future the market may start falling in the descending impulse in the wave [iii] and soon break the low of the wave [i].



As we can see at the H1 chart, yesterday the pair finished the descending impulse in the wave (i). It looks like the wave (ii) may be also completed. As a result, in the future the market may start a new decline in the wave (iii).




GBP USD, “Great Britain Pound vs US Dollar”

It’s highly likely that the GBP/USD pair is about to finish the fourth wave of the descending impulse (i). Consequently, in the nearest future the market may start falling in the wave v of (i).



More detailed structure is shown on the H1 chart. Probably, the pair formed the zigzag iv with the diagonal triangle [C] inside it. On Thursday, the market may fall in the wave v of (i).




USD JPY, “US Dollar vs Japanese Yen”

Probably, the USD/JPY pair is forming the diagonal triangle in the wave [v] of C. On a shorter timeframe, the price is probably forming the wave (iii) in the form of the zigzag. It’s highly likely that in the nearest future the market may move downwards and form the diagonal triangle in the wave c of (iii).



As we can see at the H1 chart, the pair is about to finish the fourth wave in the wave c. Consequently, in the nearest future the market may start falling in the wave [5] of c.




AUD USD, “Australian Dollar vs US Dollar”

It’s highly likely that yesterday the AUD/USD pair completed the wave (a) of [e] in the horizontal triangle 4. As a result, after finishing the local correction, the market may move upwards in the wave (c) of [e].



As we can see at the H1 chart, the pair finished the diagonal triangle in the wave v of (a). Consequently, in the nearest future the market may start a new descending correction, i.e. the wave (b).



 
RoboForex Analytical Department

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