Forecast for February 12th, 2016
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is about to complete the
diagonal triangle(v) in the ascending impulse
[c]. Earlier, the price formed the
horizontal triangle in the wave
[b]. Later, the market is expected to start falling in the bearish wave
(i).
As we can see at the H1 chart, the pair is forming the fourth correctional wave in the wave
(v). During the day, the pair may grow a little in the wave
v of (v). If later the market rebounds from the upper border of the
diagonal triangle, it may start a new correction.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the wave
[iv] has taken the form of the
zigzag. In the nearest future, Pound may continue falling in the wave
[v] of 3. Possibly, the market may break January’s low quite soon.
More detailed structure is shown on the H1 chart. After completing the bearish impulse in the wave
(i), Pound has finished the
double zigzag in the wave
(ii). On the minor wave level, the pair may finish the wave
ii and continue falling in the wave
iii of (iii).
USD JPY, “US Dollar vs Japanese Yen”
It looks like Yen is completing the
zigzag in the wave
Y of (4). After completing the
zigzag in the wave
[b] of Y, the market has started falling in the wave
[c]. It’s highly likely that quite soon the pair may finish the descending impulse and start a bullish pullback.
More detailed structure of the bearish impulse in the wave
[c] is shown on the H1 chart. Probably, after finishing the
triangle in the wave
(iv), Yen has started falling in the wave
(v). earlier, the market formed the
wedge in the wave
(i) and the
extension in the wave
(iii). On Friday, after finishing the local correction, the price may continue falling in the wave
v of (v).
AUD USD, “Australian Dollar vs US Dollar”
After completing the
double zigzag in the wave
[ii], Australian Dollar is trying to resume its decline. Earlier, the pair finished the descending
zigzag in the wave
[i]. Later, the market may continue falling in the wave
[iii] inside the
diagonal triangle.
As we can see at the H1 chart, after completing the impulse in the wave
(a), the price has started the correctional wave
(b), which is taking the form of the
zigzag. On the minor wave level, the market is expected to finish the impulse
c of (b) and start falling in the bearish wave
i.
RoboForex Analytical Department