Forecast for August 12th, 2016
The EUR/USD pair is still forming the diagonal triangle in the wave [v]. On a shorter timeframe, the price has probably completed the wave (ii). As a result, in the nearest future the market may fall inside the third wave.
EUR USD, “Euro vs US Dollar”
More detailed structure shown on the H1 chart indicates that the wave (ii) has taken the form of the zigzag. At the moment, the price is forming the descending impulse in the wave a, which may continue during the day.
GBP USD, “Great Britain Pound vs US Dollar”In case of the GBP/USD pair, the main scenario remains the same and implies that the price is still forming the wave (iii) of [iii]. It looks like earlier the market completed the wave [ii] in the form of the double three. Consequently, in the nearest future the market may continue moving downwards.
More detailed structure of the current decline is shown on the H1 chart. Probably, the pair is forming the third wave in the extended wave (iii). As a result, on Friday the market may continue falling.
USD JPY, “US Dollar vs Japanese Yen”The USD/JPY pair is still forming the bearish impulse in the wave [v] of C. On a shorter timeframe, the price is forming v of (iii), which may yet continue during the day. As a result, the market may break the local low.
As we can see at the H1 chart, the pair is finishing the second wave in the wave v of (iii). It’s highly likely that quite soon the market may form the descending impulse in the wave  and resume falling.
AUD USD, “Australian Dollar vs US Dollar”Probably, the AUD/USD pair has finished the diagonal triangle in the wave [c] of 4. Probably, the price is already forming the descending impulse in the wave (i). After finishing this impulse, the market will resume moving downwards.
As we can see at the H1 chart, yesterday the pair finished the wave c of the zigzag (v). Consequently, in the nearest future the market may form the bearish impulse in the wave i, which may be the first wave in the wave 5 on a longer timeframe.
RoboForex Analytical Department
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