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Wave Analysis 03.10.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for October 3rd, 2016

EUR USD, “Euro vs US Dollar”

At the daily chart, the EUR/USD pair is probably finishing the horizontal triangle in the wave (B). If the price rebounds from the pattern’s upside border while forming the wave E, the market will start a new descending movement.



As we can see at the H4 chart, the pair is forming the wave [y] in the double zigzag E. Consequently, in the future the market may resume growing and break the high of the wave [w].



At the H1 chart, the pair finished the zigzag in the wave (i) and then formed the ascending impulse in the wave i. As a result, in the future the market may resume moving upwards in the wave iii of (c).




GBP USD, “Great Britain Pound vs US Dollar”

It looks like the GBP/USD pair is falling in the wave [iii] of the descending impulse 5 of (c). It’s highly likely that during the next several weeks the market may continue moving downwards.



Probably, the pair is about to finish the fifth wave of the descending impulse (i). Earlier, the price finished the wave [ii] in the form of the zigzag. Consequently, in the nearest future the market may complete the wave v of (i) and start a new ascending correction.



As we can see at the H1 chart, the pair is about to finish the third wave in the wave v of (i). Consequently, in the nearest future the market may start a new local correction, which may be followed by a local decline of the price in the wave [5] of v.




USD JPY, “US Dollar vs Japanese Yen”

At the daily chart, the USD/JPY pair is probably finishing the horizontal triangle in the wave [iv]. In the future, the market is expected to rebound from the pattern’s upside border and start moving downwards in the wave [v] of C.



At the H4 chart, the price is completing the wave (e) of [iv]. As a result, in the nearest future the market may start forming the wave [v]. The descending impulse in this wave will confirm a new decline of the pair.



As we can see at the H1 chart, the wave (e) is taking the form of the zigzag. On Monday, the pair may continue forming wave y of (e) and break the last week’s highs.




AUD USD, “Australian Dollar vs US Dollar”

It’s highly likely that the AUD/USD pair is completing the horizontal triangle in the wave 4. If the price rebounds from the pattern’s upside border in the nearest future, the market may start falling in the wave 5 of (3).



At the H4 chart, the pair may yet continue forming the wave (b) in the zigzag [e] of 4. After finishing the wave (b), the market may move upwards a little bit in the wave (c) of [e].



As we can see at the H1 chart, the pair may fall a bit in the wave c of the zigzag (b). Later, the market may form a new bullish impulse and start growing in the wave (c).



 
RoboForex Analytical Department

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