Forecast for August 18th, 2016
It looks like the EUR/USD pair continues forming the ascending impulse in the wave [c] of E. Earlier, the price completed the horizontal triangle in the wave [b]. In the nearest future, the market may continue moving upwards.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. It’s highly likely that the pair is about to finish the fifth wave in the extended wave (iii). Later, after completing the correction, the market may resume growing.
GBP USD, “Great Britain Pound vs US Dollar”After finishing the wave [ii] in the form of the double three, the GBP/USD pair completed the descending impulse in the wave (i). Right now, the price is forming the correctional wave (ii). Consequently, in the nearest future the market may start a new decline in the wave (iii) of [iii].
As we can see at the H1 chart, after completing the bearish ascending impulse (i), the pair formed the wave a. Yesterday, the market finished the wave b and started moving upwards in the wave c of (ii). The internal structure of the latter wave implies that the price may continue growing during the day.
USD JPY, “US Dollar vs Japanese Yen”The USD/JPY pair continues falling in the impulse [v] of C. On a shorter timeframe, the price is probably about to finish the diagonal triangle in the wave v of (iii). After completing this pattern, the market may start a new correction in the wave (iv).
As we can see at the H1 chart, the market is forming the wave  in the diagonal triangle. As a result, in the nearest future the market may break the low of the wave  of v.
AUD USD, “Australian Dollar vs US Dollar”Probably, the AUD/USD pair may yet continue forming the diagonal triangle in the wave [c] of 4. It’s highly likely that yesterday the price completed the fourth wave inside this pattern. Consequently, in the nearest future the market may form the wave (v) of [c] and break the local high.
As we can see at the H1 chart, yesterday the pair finished the zigzag in the wave (iv) and then formed the ascending impulse in the wave a. In the future, after completing the local correction, the market may resume growing in the wave c of (v).
RoboForex Analytical Department
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