Forecast for June 21st, 2016
Eurodollar is still being corrected. It looks like the price is forming the ascending impulse (c) in the zigzag [ii]. Consequently, in the nearest future the market may break the local maximum.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the price is about to start the fifth wave in the wave (c). Earlier, the pair completed the zigzag in the wave (b). Consequently, on Tuesday the market may break the maximum of the wave iii of (c).
GBP USD, “Great Britain Pound vs US Dollar”In case of Pound, the chart structure has been changed. It’s highly likely that Pound continues forming the wave 4, which is taking the form of the double three, with the flat [x] inside it. During the next several days, the market may continue forming the zigzag in the wave [y] of 4.
More detailed structure is shown on the H1 chart. At the moment, Pound is completing the bullish wave (a). On the minor wave level, the price has completed the fifth wave. As a result, in the nearest future the market may start a new local correction.
USD JPY, “US Dollar vs Japanese Yen”Yesterday, Yen finished the fourth wave in the descending extension of the wave (iii). It looks like In the nearest future, the market may the pair may continue falling in the wave v and then start a new correction.
As we can see at the H1 chart, Yen has completed the descending impulse, which may be the first wave of the wave v of (iii). Consequently, after finishing the local correction, the pair may resume falling and break yesterday’s low.
AUD USD, “Australian Dollar vs US Dollar”Probably, Australian Dollar is forming the wave (y) in the correctional double zigzag [ii]. Earlier, the price completed the descending impulse in the wave [i]. As a result, in the nearest future the market may break its local high.
As we can see at the H1 chart, after finishing the zigzag in the wave (x), the price started forming the ascending impulse in the wave a. It looks like on Tuesday the pair may complete the wave a and start a new local correction in the wave b of (y).
RoboForex Analytical Department
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