Forecast for January 11th, 2016
It looks like Eurodollar continues forming the bullish impulse in the wave [c] of the wave 4. During this week, the pair may continue growing to break the maximum of the wave [a].
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, after finishing the wave (c) of [b] in the form of the diagonal triangle, the price has started forming another ascending impulse. Last week, the market completed the wave (i). It’s highly likely that during the next several days the market will continue growing in the wave (iii) of [c].
GBP USD, “Great Britain Pound vs US Dollar”In case of Pound, the downtrend continues. It looks like the pair is still forming the impulse in the [iii]. During the next several days, the market may continue falling and reach several new lows.
As we can see at the H1 chart, right now the price is falling in the wave v. On Monday, this descending movement may continue, but later the market is expected to be corrected in the wave (iv).
USD JPY, “US Dollar vs Japanese Yen”It looks like Yen is forming the descending zigzag C inside the larger correction. 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 moving downwards in the wave (v). In the future, the market may continue its decline inside this bearish impulse.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is still moving downwards in the bearish wave [iii]. Earlier, the pair finished the wedge in the wave [i] and the correctional wave [ii]. In the nearest future, the market may continue falling in the third wave.
At the H1 chart, the price is about to finish the wave (v) of the descending impulse in the wave [iii]. It’s highly likely, that in the nearest future the market may form the bullish impulse in the wave (a), and, as a result, start another correction.
RoboForex Analytical Department
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