Forecast for January 7th, 2016
In case of Eurodollar, the price continues forming the wave [b]. In the nearest future, the market may complete this wave and then start another ascending movement in the wave [c].
EUR USD, “Euro vs US Dollar”
It looks like the pair is forming the fourth wave in the wave (c), which may continue on Thursday. Later, the market may continue its descending movement in the wave v of (c).
GBP USD, “Great Britain Pound vs US Dollar”At the H4 chart, after finishing the wave 2, the market has formed the bearish wedge in the wave [i]. It looks like in the future the pair is going to continue forming the wave [iii] of 3.
As we can see at the H1 chart, right now the price is falling in the wave iii of the descending impulse (iii). On Thursday, the market may reach new lows.
USD JPY, “US Dollar vs Japanese Yen”It looks like Yen is forming the bearish zigzag C inside the larger triangle. During the next several days, the price may continue falling in the wave [c] of C.
After finishing the flat in the wave [b], Yen has started falling in the descending wave [c]. On the minor wave level, the price is about to finish the wave (iii). In the future, the market may be corrected in the wave (iv) of [c].
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is moving downwards in the bearish impulse [iii]. Earlier, the pair finished the wedge in the wave [i] and the correctional wave [ii]. During this week, the market may continue falling to reach new lows.
At the H1 chart, after finishing the correction in the wave (ii), the pair has started falling quite fast in the third wave. Earlier, the pair formed the bearish impulse in the wave (i). In the nearest future, the market may continue forming the descending wave (iii) of [iii].
RoboForex Analytical Department
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