Forecast for September 28th, 2016
Probably, the EUR/USD pair finished the wave [ii]. Earlier, the price formed the descending wedge in the wave [i]. Consequently, in the nearest future the market may start falling in the wave [iii] and break the low soon.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the pair probably finished the descending impulse in the wave (i). On Wednesday, the local correction may take place, which may be followed by a new decline in the wave (iii).
GBP USD, “Great Britain Pound vs US Dollar”It’s highly likely that the GBP/USD pair is forming a new descending impulse, which may be the wave (ii). On a shorter timeframe, the market is about to complete the fourth wave and may soon resume falling in the wave v of (i).
As we can see at the H1 chart, the pair formed the zigzag iv with the diagonal triangle [C] inside it. As a result, in the nearest future the market may test the low of the wave iii.
USD JPY, “US Dollar vs Japanese Yen”The USD/JPY pair is still forming the diagonal triangle in the wave [v] of C. On a shorter timeframe, the price is probably forming the third wave, which may continue in the nearest future.
More detailed structure is shown on the H1 chart. It looks like the pair finished the horizontal triangle in the wave (4). Consequently, in the nearest future the market may start falling in the wave (5) of [A].
AUD USD, “Australian Dollar vs US Dollar”Probably, the AUD/USD pair continues forming the horizontal triangle in the wave 4. As a result, during the next several days the market may form the zigzag in the wave [e] and test the pattern’s upside border.
More detailed structure is shown on the H1 chart. It looks like the pair is about to complete the diagonal triangle in the fifth wave of the ascending impulse (a). Later, the market may start a new local descending correction.
RoboForex Analytical Department
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