Forecast for January 10th, 2017
EUR USD, “Euro vs US Dollar”
It looks like the EUR/USD pair is still being corrected to the upside. Earlier, the price finished the bearish wedge in the wave 1 and the bullish impulse in the wave [a]. It’s highly likely that in the nearest future the market may continue forming the wave [c] of 2.
Possibly, the pair is forming the second wave in the diagonal triangle [c]. Consequently, after finishing the correction, the market may move upwards in the wave (iii) of [c].
GBP USD, “Great Britain Pound vs US Dollar”
Probably, after finishing the correctional wave (ii), the GBP/USD pair completed the descending impulse i in the wave (iii). Consequently, in the nearest future the market may continue falling and forming the wave iii of (iii).
More detailed structure is shown on the H1 chart. The pair finishing the descending impulse in the wave i along with the correctional double three in the wave ii. Moreover, the price broke the low, which means that it may start a new bearish rally. To confirm this scenario, the market has to complete the wave  of iii.
USD JPY, “US Dollar vs Japanese Yen”
Yesterday, after finishing the ascending impulse in the wave 1, the USD/JPY pair completed the wave [b]. As a result, during the next several days, the correction may continue and then the market may resume falling in the wave [c] of 2.
As we can see at the H1 chart, the wave [b] took the form of the zigzag, which was followed by the bearish impulse in the wave (i). On Tuesday, after finishing the correction, the market is expected to start the descending wave (iii) of [c].
AUD USD, “Australian Dollar vs US Dollar”
Probably, the AUD/USD pair is still forming the wave (ii). Earlier, the price completed two descending impulses, which may be first waves on different timeframes. To confirm the wave (iii) of [iii], the market has to form the first wave inside it.
As we can see at the H1 chart, the pair probably finished the ascending impulse in the wave [C] of y and, as a result, completed the wave (ii) in the form of the double zigzag as well. In this case, in the future the market may resume moving downwards.
RoboForex Analytical Department