Forecast for February 11th, 2016
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is about to complete the fifth wave in the form of the
diagonal triangle in the impulse
[c]. In the nearest future, the price may break yesterday’s high, finish the wave
(v), and then start falling in the wave
(i).
More detailed structure is shown on the H1 chart. After completing the
zigzag in the wave
(iv), Eurodollar has started the
diagonal triangle in the wave
(v). On the minor wave level, the pair may finish the wave
iii and, after the local correction, continue growing in the wave
v of (v).
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 wave
(c) of [iv], Pound has formed the descending impulse in the wave
(i) and then finished the
double zigzag in the wave
(ii). During the day, the pair may continue falling in the wave bearish 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. Right now, Yen is completing the fifth wave of this impulse. Later, the pair may fall, and then, after forming the bullish impulse, start another ascending correction.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has successfully completed the
double zigzag in the wave
[ii]. 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.
It looks like the wave
[ii] has taken the form of the
double zigzag. After completing the
zigzag in the wave
(y), Australian Dollar has started forming the descending impulse in wave
(a). On the minor wave level, the market is expected to finish the local correction and continue falling.
RoboForex Analytical Department