Forecast for January 27th, 2016
The horizontal triangle in wave 4 continues. It looks like right now the price is forming the wave [e] and may continue moving towards the pattern’s upside border in the nearest future.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the price is forming the ascending impulse in the wave [e] of (c). Earlier, the pair completed the zigzag in the wave [d]. On Wednesday, the market may continue its local growth and break the maximum of the wave (a) of [e].
GBP USD, “Great Britain Pound vs US Dollar”The bearish impulse in the wave [iii] continues. On the minor wave level, the pair is about to complete the wave (iv) and in the nearest future may start falling in the fifth one. Consequently, the market may break the minimum of the wave (iii) until the end of the week.
More detailed structure is shown on the H1 chart. Probably, the wave (iv) is taking the form of the double three with the zigzag y inside it. In the nearest future, the pair may finish the impulse in the wave [C] and resume its descending movement.
USD JPY, “US Dollar vs Japanese Yen”Probably, Yen has completed the wave C in the form of the zigzag in the wave (4). 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 formed the ascending impulse in the wave (i). It looks like yesterday the price formed the zigzag in the wave (ii) and then the wave i. Consequently, on Wednesday the market may form the bullish impulse in the wave iii of (iii).
AUD USD, “Australian Dollar vs US Dollar”It’s highly likely that Australian Dollar is about to finish the wave [iv]. Earlier, the pair formed the descending impulse in the wave [iii]. During this week, the pair may complete the current correction and resume its decline in the wave [v] of 5.
Probably, the wave [iv] is taking the form of the double three with the wave (y) inside it. After Australian Dollar forms the bearish impulse or the wedge in the wave (i), the downtrend will resume.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Live Account.