Wave Analysis 27.06.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
27.06.2016
Forecast for June 27th, 2016
EUR USD, “Euro vs US Dollar”
After completing the wave [ii] in the form of the zigzag, Eurodollar formed the descending impulse in the wave (i). Probably, the local correction has already completed and the pair may start falling in the wave (iii) of [iii].
As we can see at the H1 chart, the wave (c) of [ii] took the form of the diagonal triangle and then the price completed the wave (ii) in the form of the zigzag. On the minor wave level, the market may start falling in the wave iii of (iii).
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the wave 4, Pound completed the fast descending impulse in the wave [i]. Possibly, the wave [ii] has been completed as well. Consequently, in the future the pair may continue falling in the wave [iii].
More detailed structure is shown on the H1 chart. It looks like Pound is finishing the first wave in the wave [iii]. Later, the local correction may take place, which may be followed by another decline in the wave (iii) of [iii].
USD JPY, “US Dollar vs Japanese Yen”
As we can see at the H4 chart, the wave [v] may take the form of the diagonal triangle. As a result, in the nearest future, the local correction may take place, but later Yen is expected to start falling in the wave (v) of [v].
As we can see at the H1 chart, Yen is finishing the wave b in the wave (iv). Consequently, later the market may start growing in the wave c of (iv), which may be followed by a new decline.
AUD USD, “Australian Dollar vs US Dollar”
After completing the zigzag in the wave [ii], Australian Dollar formed the bearish impulse in the wave (i). Later, after finishing the correction, the market may start falling in the wave (iii) and break the low of the wave [i].
More detailed structure of the double zigzag in the wave [ii] is shown on the H1 chart. Probably, the price has already completed the wave (ii) and may continue falling in the wave (iii) of [iii].
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.