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Wave Analysis 30.08.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for August 30th, 2016

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair has started forming the bearish impulse in the wave [i]. Earlier, the price completed the triangle in the wave (B). Consequently, in the nearest future the market may continue falling.



As we can see at the H1 chart, the pair has formed the bearish wedge in the wave i. As a result, during the day the local correction may take place, which may be followed by a new descending movement in the third wave.




GBP USD, “Great Britain Pound vs US Dollar”

In case of the GBP/USD pair, the situation is the same. It looks like after finishing the wave (ii) in the form of the zigzag, the price started forming the descending impulse in the wave i. In the nearest future, the market may continue moving downwards.



Possibly, the pair has formed the wedge in the wave [1]. On Tuesday, the correction may take place, which may be followed by a new decline in the wave [3]. As a result, the market may break the low of the wave [1] quite soon.




USD JPY, “US Dollar vs Japanese Yen”

The main scenario still implies that the USD/JPY pair is forming the diagonal triangle in the wave [v]. Consequently, in the nearest future, after finishing the wave (ii), the market may resume falling in the third wave.



More detailed structure is shown on the H1 chart. It’s highly likely that the pair is about to complete the bullish impulse in the wave [C] of y. To confirm a new descending movement in the wave (iii), the price has to form the descending impulse inside it.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair completed the bearish wedge in the wave (i) and resumed moving downwards. Probably, at the moment the price is forming a new descending impulse in the wave (iii). As a result, during this week the market may continue falling much faster.



At the H1 chart, the pair has probably formed the zigzag in the wave (ii) and then the descending impulse in the wave i. Considering that the correction may also complete, in the future the market may move downwards in the third wave.



 
RoboForex Analytical Department

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