Wave Analysis 28.06.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
28.06.2016
Forecast for June 28th, 2016
EUR USD, “Euro vs US Dollar”
It’s highly likely that Eurodollar has started forming the descending extension in the wave (iii). Earlier, the price formed the wave (c) of [ii] in the form of the diagonal triangle and the fast impulse in the wave (i). As a result, later the pair may resume falling and break the low.
As we can see at the H1 chart, after finishing the wave (ii), Eurodollar formed the descending wedge in the wave i. Consequently, in the nearest future, after finishing the local correction, the pair 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].
It looks like Pound has formed two first waves on different levels. Probably, the price is about to finish the local correction. Possibly, during the day the pair may resume its descending movement in the wave (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].
At the H1 chart, Yen has started forming the ascending wave c of (iv). Earlier, the price completed the local correction in the wave b. The market may start falling in the wave a of (v) as soon as it finishes the wave (iv).
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].
At the H1 chart, Australian Dollar is probably finishing the wave ii of (iii). Earlier, the pair formed the fast descending impulse in the wave (i). Consequently, in the future the price may start falling in the wave iii and break the local low.
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.