Wave Analysis 15.02.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
15.02.2016
Forecast for February 15th, 2016
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar has completed the diagonal triangle(v) and the bullish impulse [c]. In the nearest future, the market is expected to start falling in the bearish wave (i).
More detailed structure is shown on the H1 chart. It looks like on Monday the pair may fall in the wave (i). If the market does form the descending impulse, the price may resume its descending movement.
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.
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”
Probably, Yen has finished 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 start a bullish pullback quite soon.
After finishing the triangle in the wave (iv), Yen started falling in the wave (v), which may have already completed. On Monday, after finishing the local correction, the price may continue growing in the wave (i).
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
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.