Forecast for January 26th, 2016
The horizontal triangle in wave 4 continues. It looks like during the next several days the price may continue forming the wave [e] towards the pattern’s upside border.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the price has completed the wave [e] of (b). Consequently, in the nearest future the pair may form the ascending impulse in the wave (c) and break the maximum of the wave (a).
GBP USD, “Great Britain Pound vs US Dollar”Pound continues forming the bearish impulse in the wave [iii]. On the minor wave level, the pair has completed the wave (iv) and right now is starting to fall in the fifth one. In the nearest future, the market may continue falling and break the minimum.
More detailed structure is shown on the H1 chart. It looks like Pound has finished the wave (iv) in the form of the zigzag. During the day, after completing the local correction, the pair may move downwards in the wave iii of (v).
USD JPY, “US Dollar vs Japanese Yen”Probably, Yen has completed the wave C in the form of the zigzag. In the nearest future, the market may continue forming the bullish impulse in the wave [i] or [a].
After finishing the wave (v) in the form of the diagonal triangle, Yen has started moving upwards. It’s highly likely that right now the market is forming the extension in the wave (iii). On the minor wave level, the pair may finish the wave iv and resume growing in the wave v of (iii).
AUD USD, “Australian Dollar vs US Dollar”It’s highly likely that Australian Dollar has finished the wave [iii]. Earlier, the pair formed the wedge in the wave [i]. During this week, the correction in the wave [iv] may continue; the form of this correction will be specified later.
More detailed structure is shown on the H1 chart. Yesterday, Australian Dollar finished the ascending zigzag in the wave (w). During the day, the pair may form a new local descending correction, which may be followed by another growth in the wave (y) of [iv].
RoboForex Analytical Department
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