Forecast for February 22nd, 2016
After the end of the upward momentum in the wave [c] of C, the euro dollar resumed its decline. Later on, a downward momentum in the wave (i) was formed, subsequently corrected by wave (ii). In the short term, a beginning of a decline in wave (iii) is possible.
EUR USD, “Euro vs US Dollar”
A more detailed structure is shown on the hourly chart. Apparently, after the formation of the pulse in the wave (i), a wedge in wave i was formed. As soon as the local correction is completed, a beginning of decline in wave iii of (iii) is likely.
GBP USD, “Great Britain Pound vs US Dollar”Wave [iv] took the form of a zigzag, the end of which was the start of a decrease in the wave [v] of 3. At the low wave level the price movement down in the wave (iii) is likely. During the day, the price can reach up to a minimum of the wave [iii].
The hourly chart shows a more detailed layout. Presumably, as a part of wave (iii) the fourth has completed and decline in the framework of the fifth wave is continuing. It is very likely that during Monday we will see further market decline.
USD JPY, “US Dollar vs Japanese Yen”The formation of Y of (4) wave completed on the four-hour chart, taking the form of a zigzag. Subsequently, bullish momentum in the wave (i) has been formed. It is very likely that soon after the end of correction, it will be followed by continued growth in the wave (iii).
As you can see from the hour chart, pulse pattern in wave (i) has a finished look. Probably wave (ii) is coming to an end, the downward momentum in wave c is completed. In the short term, perhaps there will be a resumption of growth.
AUD USD, “Australian Dollar vs US Dollar”Formation of wave [ii], takes the form of a zigzag with a plane in wave (b), and is already close to an end. Subsequently, renewed downward movement of price is possible within wave [iii] in the diagonal triangle.
In hourly chart, wave (c) becomes a diagonal triangle. At the minor wave level, the continuation of the fifth wave in the model is possible, a rebound from the top of which points to the possibility of the resumption of decline.
RoboForex Analytical Department
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