Forecast for February 1st, 2016
Probably, Eurodollar has finished the horizontal triangle in the wave 4; the pair has rebounded from the pattern’s upper border. In the nearest future, the market may continue forming the bearish impulse in the wave [i].
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the wave (c) of [e] has taken the form of the diagonal triangle. It looks like right now the price is about to complete the fourth wave in the wave [i]. Consequently, on Monday the market may start falling in the wave (v) of [i].
GBP USD, “Great Britain Pound vs US Dollar”The pair continues forming the descending extension in the wave 3; last week, the pair completed the fourth wave inside this wave. During the next several days, Pound may continue moving downwards and break the minimum while forming the wave [v] of 3.
More detailed structure is shown on the H1 chart. It’s highly likely that the price has finished the wave [iv] in the form of the zigzag with the diagonal triangle (c) inside it. After completing the local correction, market may resume its descending movement 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 wave (4). In the nearest future, the market may continue forming the bullish impulse in the wave [i] or [a].
As we can see at the H1 chart, after completing the bullish impulse in the wave (i), Yen has started the extension in the wave (iii). Probably, on the minor wave level the market has finished the fourth wave and may start another growth in the wave v of (iii).
AUD USD, “Australian Dollar vs US Dollar”Probably, at the end of last week the price finished the wave [iv] in the wave 5, which is taking the form of the diagonal triangle 5. In the future, the pair may resume its decline in the bearish wave [v] of 5.
As we can see at the H1 chart, the wave (c) of [iv] has taken the form of the diagonal triangle. On the minor wave level, the market has formed the descending impulse in the wave (i). After completing the local correction, the pair may start falling in the wave (iii) of [v].
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.