Forecast for September 28th, 2016
EUR USD, “Euro vs US Dollar”
Probably, the EUR/USD pair finished the wave
[ii]. Earlier, the price formed the descending
wedge in the wave
[i]. Consequently, in the nearest future the market may start falling in the wave
[iii] and break the low soon.
As we can see at the H1 chart, the pair probably finished the descending impulse in the wave
(i). On Wednesday, the local correction may take place, which may be followed by a new decline in the wave
(iii).
GBP USD, “Great Britain Pound vs US Dollar”
It’s highly likely that the GBP/USD pair is forming a new descending impulse, which may be the wave
(ii). On a shorter timeframe, the market is about to complete the fourth wave and may soon resume falling in the wave
v of (i).
As we can see at the H1 chart, the pair formed the
zigzagiv with the
diagonal triangle[C] inside it. As a result, in the nearest future the market may test the low of the wave
iii.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still forming the
diagonal triangle in the wave
[v] of C. On a shorter timeframe, the price is probably forming the third wave, which may continue in the nearest future.
More detailed structure is shown on the H1 chart. It looks like the pair finished the
horizontal triangle in the wave
(4). Consequently, in the nearest future the market may start falling in the wave
(5) of [A].
AUD USD, “Australian Dollar vs US Dollar”
Probably, the AUD/USD pair continues forming the
horizontal triangle in the wave
4. As a result, during the next several days the market may form the
zigzag in the wave
[e] and test the pattern’s upside border.
More detailed structure is shown on the H1 chart. It looks like the pair is about to complete the
diagonal triangle in the fifth wave of the ascending impulse
(a). Later, the market may start a new local descending correction.
RoboForex Analytical Department